The scope of cost accounting include __________ and __________.
Service costing is used in industries producing __________.
__________ is the value of a benefit where no actual cost is incurred.
Inventory turnover in days = Days during the period ÷ __________.
In automobile, __________ costing is used.
__________ obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation of production.
The primary emphasis of __________ cost is on the planning function of management.
Inventory turnover ratio = Cost of inventory consumed during the period ÷ Cost of __________ held during the period.
__________ cost is irrecoverable cost.
__________ is the maximum possible alternative earning that might have been earned if the productive capacity is put to some alternative use.
__________ is the smallest segment of activity or area or responsibility for which costs are accumulated.
__________ includes financial and cost accounting, tax planning and tax accounting.
__________ is the oldest branch of accounting.
__________ is used primarily for control of spare parts.
Re-ordering level = Maximum consumption x __________.
__________ provides information for income determination.
__________ are costs which have been applied against revenue of particular accounting period.
__________ helps in ascertaining costs beforehand.
__________ is a post mortem of past costs.
An item of cost that is direct for one business may be __________ for another business.
__________ is the cost which involves payment to outsiders.
The principle types of inventories are raw materials and __________ and finished goods.
The total of all direct expenses is known as __________ cost.
Re-ordering level = __________ X Maximum re-order period.
__________ aids in price fixation.
Inventory turnover ratio = Cost of __________ during the period ÷ Cost of average inventory held during the period.
__________ is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory.
Standard costs is __________.
Cost accounting disclose __________.
__________ is a technique of stock control which leads to saving of time of the management because attention is required to be paid only to some of the items rather than on all the items.