Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Urgent assignemnt question, Please give right answers with working notes and reasons. I. MCD Company gave the 2015 monetary reports on March 1, 2016. The

Urgent assignemnt question, Please give right answers with working notes and reasons.

I. MCD Company gave the 2015 monetary reports on March 1, 2016. The substance gave the going with data to the year completed December 31, 2015:

Aggregate owing to another substance for organizations conveyed during

December 2015 300,000

Evaluated long assistance leave inferable from laborers in respect of past organizations 1,200,000

Evaluated cost of moving a delegate from head office to a branch around there (specialist will genuinely relocate in January 2016) 100,000

Evaluated cost of redesiging machine predictably 150,000

What entirety should be seen as plan on December 31, 2015?

a. 1,200,000

b. 1,300,000

c. 1,600,000

d. 1,750,000

II. Which of coming up next are quick expenses?

A. The cost of remarkable plans, drawings or plans

B. The enroll of instruments or stuff for a particular work

C. Salesman's wages

D. Rent, rates and security of a mechanical office

a. (1) and (2)

b. (1) and (3)

c. (1) and (4)

d. (3) and (4)

III. Which of the going with things isn't dismissed while setting up a cost sheet?

A. Goodwill limited

B. Provision for charge appraisal

C. Property charge on Factory building

D. Transfer to saves

E. Interest paid

IV. What is prime cost

A. Total direct expenses figuratively speaking

B. Total variant expenses figuratively speaking

C. Total non-creation costs

D. Total creation costs

V. Which of coming up next isn't a part of works overhead?

A. Sales manager's remuneration

B. Plant manager's pay

C. Factory repairman's wages

D. Product inspector's pay

VI. In Reconciliations Statements Expenses shown interestingly in money related records are.

A. Added to financial advantage

B. Deducted from financial advantage

C. Ignored

D. Added to costing advantage

VII. In Reconciliations Statements Expenses shown particularly in cost accounts are.

A. Added to money related advantage

B. Deducted from money related advantage

C. Ignored

D. Deducted from costing advantage

VIII. In Reconciliations Statements, moves to holds are.

A. Added to financial advantage

B. Deducted from financial advantage

C. Ignored

D. Added to costing advantage

IX. In Reconciliations Statements, Incomes shown particularly in financial records are.

A. Added to money related advantage

B. Deducted from money related advantage

C. Ignored

D. Deducted from costing advantage

X. In Reconciliations Statements, Closing Stock Undervalued in Financial records is

A. Added to money related advantage

B. Deducted from financial advantage

C. Ignored

D. Added to costing advantage

XI. Which of the going with things is barred from availability of cost sheet?

A. Carriage inner

B. Purchase returns

C. Sales commission

D. Interest paid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones Of Financial Accounting

Authors: Jay Rich, Jeff Jones

3rd Edition

1285424409, 978-1285423678

More Books

Students also viewed these Accounting questions