Costing

✅ The correct answer is B.

✅ The correct answer is A.
Graphical representation of cost driver data and costs is considered as plotting data.

✅ The correct answer is A.
Under ABC method of material control, the material are classified according to its value. The ABC analysis suggests that inventories of an organization are not of equal value. Thus, the inventory is grouped into three categories (A, B, and C) in order of their estimated importance.

✅ The correct answer is D.
Packing cost is distribution cost. Packaging cost is a significant factor in pricing a product.

✅ The correct answer is A.
Uncontrollable costs are the costs which can not be influenced by the action of a specified member of an undertaking. For example: a foreman incharge of a tool room can only control costs pertaining to the same department and the matters which come directly under his control, not the costs apportioned to other department. The expenditure which is controllable by an individual may be uncontrollable by another individual.

✅ The correct answer is B.
Statutory cost audit are applicable only to Company. A statutory audit is a legally required review of the accuracy of a company’s or government’s financial statements and records.

✅ The correct answer is D.
Under Graduated time rate method the rate of wages are linked with the cost of living index. Under this method the rates of wages are linked up with the cost of living index. Thus, the rate per hour or day fixed initially goes on changing with the changes in the cost of living index.

✅ The correct answer is D.
An actual selling price is subtracted from budgeted selling price, and then multiplied to actual sold units to calculate selling price variance. Sales price variance measures the change in a company’s total budgeted revenue to the actual revenue earned on a product.

✅ The correct answer is A.
Operating Costing to be applied in case of Nursing Home. Operating costing is an extension and refined form of process costing. It is also more or less very similar to single or output costing.

✅ The correct answer is D.
Total cost of producing similar products divided by number of units produced is a technique known as process costing system. Process costing is a type of operation costing which is used to ascertain the cost of a product at each process or stage of manufacture.