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CMA Intermediate Exam: Cost Accounting 2 (Fill Blanks)
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CMA Intermediate Exam: Cost Accounting 2 (Fill Blanks)
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25 Questions

1. Store Ledger is maintained by__________ department

2. The term used for charging of overheads to cost units is known as ________________

3. Under integrated accounting system, the accounting entry for payment of wages is to debit _________________________ and to credit cash

4. In Halsey plan, a worker gets bonus equal to ____ of the time saved

5. The abnormal idle time cost is charged to __________________ Account.

6. Normal idle time costs should be charged to ___________________ while that due to abnormal reasons should be charged to ___________________

7. A budget is a _____ to management.

8. Direct Expenses relate to ________________ or __________________

9. The net balance of _____________________ represents net profit or net loss.

10. ___________________ is discount allowed to the bulk purchaser

11. CAS-2 deals with Cost Accounting Standard on ____________ determination

12. Under integrated accounting system, the accounting entry for payment of wages is to debit ___________________ and to credit cash.

13. Budget is a quantitative and / or a _____________ statement

14. _________________ is must for meaningful inter-firm comparison

15. ________________ leads to budgeting and budgeting leads to budgetary control

16. In Reconciliations Statements, overheads Under Recovered in cost accounts are __________________.

17. In Absorption Costing ______ cost is added to inventory

18. The formula for computing wages under time rate is _________________________

19. In motor transport costing two example of fixed cost are________________ and __________________

20. In _____________ Systems, basis of wages payment is the quantity of work

21. Notional remuneration to owner is expense debited only in________________.

22. Bin Card is maintained by __________________________department

23. Material Transfer Note is a ________________ for transferring the materials from one job to other job.

24. Contribution margin equals to _____________________

25. When special material is purchased for direct use in a job, ____________ account is debited in the Integral Accounts System

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