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