1. Under standard cost system the cost of the product determined at the beginning of production is its:
A) Direct cost
B) Pre-determined cost ✓
C) Historical cost
D) Actual cost
CA Intermediate Paper 3
Standard Costing MCQ
Chapter 13 • 11 Questions from ICAI Study Material
Questions
11
Est. Time
17 min
Source
ICAI Book
Question 1 of 11 0 correct | 0 wrong
Explanation:
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Key Concept:
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Sample Questions: Standard Costing
Preview 3 of 11 questions from Chapter 13
2. The deviations between actual and standard cost is known as:
A) Multiple analysis
B) Variable cost analysis
C) Variance analysis ✓
D) Linear trend analysis
3. The standard which is attainable under favourable conditions is:
A) Theoretical standard ✓
B) Expected standard
C) Normal standard
D) Basic standard