## SEBI Grade A 2024 Free Quiz – Costing Practice Questions Set-5

SEBI Grade A 2024 Free Quiz – SEBI Grade A Costing Practice Question Test. Costing study material for SEBI Grade A Exam 2024.Costing, Companies Act, Economics, Commerce & Accountancy, Management and Finance Notes PDF for SEBI Grade A Preparation 2024.As we all know The Security Exchange Board of India (SEBI) has released the SEBI Grade A 2024 Notification for the recruitment of 97 Assistant Managers across the country.

If you are preparing for SEBI Grade A 2024, you will come across a section on Costing, Companies Act, Economics”. In this post, you will attempt SEBI Grade A Costing Practice Question for your SEBI Grade A Preparation 2024. If you prepare this thoroughly, you can very easily crack SEBI Grade A 2024.

## SEBI Grade A 2024 Free Quiz – Costing Practice Question Set-5

1. Describe the method of costing to be applied in case of Nursing Home

A. Operating Costing

B. Process Costing

C. Contract Costing

D. Job Costing

E. None of these

Correct Answer – A. Operating Costing

2. Describe the cost unit applicable to the Bicycle industry

A. Per part of bicycle

B. Per bicycle

C. Per tonne

D. Per day

E. None of these

Correct Answer – B. Per bicycle

3.Calculate the prime cost from the following information:

Direct material purchased: Rs. 1,00,000

Direct material consumed: Rs. 90,000

Direct labour: Rs. 60,000

Direct expenses: Rs. 20,000

A. Rs. 1,80,000

B. Rs. 2,00,000

C. Rs. 1,70,000

D. Rs. 2,10,000

E. None of these

Correct Answer – C. Rs. 1,70,000

4. Which of these is not a Material control technique

A. ABC Analysis

B. Fixation of raw material levels

C. Maintaining stores ledger

D. Control over slow moving and non moving items

E. None of these

Correct Answer – C. Maintaining stores ledger

5. Cost of abnormal wastage is-

A. Charged to the product cost

B. Charged to the profit & loss account

C. Charged partly to the product and partly profit & loss account

D. Not charged at all

E. None of these

Correct Answer – D. Charged to the profit & loss account

A. Direct or Prime Cost

B. All Indirect costs

C. Only Factory indirect costs

D. Only indirect expenses

E. None of these

Correct Answer – B. All Indirect costs

7. Which of the following is not a reason for an idle time variance?

A. Wage rate increase

B. Machine breakdown

C. Illness or injury to worker

D. Non- availability of material

E. None of these

Correct Answer – A. Wage rate increase

8. In process costing, if an abnormal loss arises, the process account is generally

A. Debited with the scrap value of the abnormal loss units

B. Debited with the full production cost of the abnormal loss units

C. Credited with the scrap value of the abnormal loss units

D. Credited with the full production cost of the abnormal loss units

E. None of these

Correct Answer – D. Credited with the full production cost of the abnormal loss units

9. Which of the following statements is/are correct?

1.A materials requisition note is used to record the issue of direct material to a specific job.

2.A typical job cost will contain actual costs for material, labour and production overheads, and non –production overheads are often added as a percentage of total production cost

3. The job costing method can be applied in costing batches

A. (1) only

B. (1) and (2) only

C. (1) and (3) only

D. (2) and (3) only

E. None of these

Correct Answer – C. (1) and (3) only

10. Which of the following organisations should not be advised to use service costing?

A. Distribution service

B. Hospital

C. Maintenance division of a manufacturing company

D. A light engineering company

E. None of these

Correct Answer – C. A light engineering company

 SEBI Grade A Free Study Material- Download Free PDF Commerce & Accountancy Practice Questions Management Practice Questions Finance Practice Questions Companies Act Practice Questions Costing Practice Questions Economics Practice Questions

Before Starting the preparation of “SEBI Grade A 2024” you should check the Syllabus and Exam Pattern of SEBI Grade A 2024. If you decided to fill out the form for SEBI Grade A 2024, then you required Study Material for SEBI Grade A 2024. Here we are given Best Books For SEBI Grade A 2024. These books are published in two parts. The SEBI Grade A Volume I Book covers (Commerce  & Accountancy, Management, and Finance) and the SEBI Grade A Volume II Book covers (Costing, Companies Act 2013 & Economics).