811. The pricing strategy that produces absurd results when material prices fluctuate widely is:
A. Simple average price
B. Weighted average price
C. Moving average price
D. Inflated price
812. The method that will smooth out the effect of large fluctuations in prices is:
A. Simple average
B. Weighted average
C. FIFO
D. LIFO
813. In which of the following methods, the charge to production is at actual cost?
A. Weighted average price
B. Standard price
C. Replacement price
D. FIFO
814. Which of the following is not included in the administration cost?
(A) Salaries of general office staff
B) Salaries of foremen
(C) Office supplies and expenses
(D) Postage, stationery, telephone, etc.
815. The functional classification of costs includes the following except:
A) Prime cost
(B) Production cost
(C) Administration cost
(D) Marketing cost
816. Which of the following is TRUE regarding the use of a blanket rate?
A) The use of a single blanket rate makes the apportionment of overhead costs unnecessary
(B) The use of a single blanket rate makes the apportionment of overhead costs necessary
(C) The use of a single blanket rate makes the apportionment of overhead costs uniform
(D) None of the given options
817. Cost can be classified according to:
(A) Elements
(B) Functions
(C) Behavior
D) All of the above
818. Which of the following is not a technique of costing?
(A) Absorption costing
(B) Standard costing
C) Multiple costing
(D) Marginal costing
819. Which of the following is not a method of costing?
A) Marginal costing
(B) Job costing
(C) Process costing
(D) Operating costing
820. Marketing involves the following except:
A) Designing
(B) Selling
(C) Publicity
(D) Distribution
Admin