Choose the correct alternative from the following:
- An adverse MPV occurs because of: (i) price increase in material; (ii) price decrease in material; (iii) more than anticipated normal wastage of material.
- A favourable MUV occurs because of: (i) over consumption of material; (ii) under consumption of material; (iii) price decrease in material.
- MYV = (SH × AO – AH × AO) X: (i) AR; (ii) Standard yield rate; (iii) SR.
- Standard Costing helps in: (i) reducing losses; (ii) measuring the actual performance; (iii) controlling prices.
- Basic standard is prepared for a: (i) short period; (ii) long period; (iii) current period.
- Standard Costing involves in determination of: (i) Standard Cost; (ii) Estimated Cost; (iii) budgeted cost.
- If MCV is Rs. 10,000 (F) and MPV is Rs. 15,000 (A), then MUV is equal to: (i) Rs. 5,000 (A); (ii) Rs. 25,000 (F); (iii) Rs. 5,000 (F).
- If LCV is Rs. 20,000 (A) and LEV is Rs. 12,000 (F), then LPV is equal to: (i) Rs. 32,000 (A); (ii) Rs. 8,000 (F); (iii) Rs. 32,000 (F).