Purchase Price of Products, Production Cost and Selling Price

Determination of cost and selling price helps a business to:

The prime objective of a business concern is to determine actual:

Net income or loss of a business can be ascertained correctly when:

Cost price is determined by adding direct expenses to:

Total cost is obtained by adding to cost price:

Selling price is determined by adding to total cost:

According to the chapter learning outcomes, after this chapter we will be able to:

To survive in the current competitive market situation, it is vital to determine price for:

Cost determination at the time of production or purchase protects the interest of:

Maintaining the interest of both purchaser and seller depends on:

In ordinary sense, cost price is the price paid at the time of:

In the real sense, cost price includes all the cost of carrying goods to:

Costs incurred for carrying goods to the storage place are known as:

Which of the following is a direct expense?

Which of the following is a direct expense?

Truck fare paid to bring purchased goods to the warehouse is treated as:

Off-loading expenses paid to bring goods to warehouse is a:

Cost price equals purchase price of goods plus:

Toll charge paid for transporting purchased goods is a:

Labour charge paid for unloading purchased goods is treated as:

Samad and Sons purchased Soyabin oil at how many taka per litre?

Total purchase price of 5,000 litres of Soyabin oil at Tk 120 per litre is:

Total direct expenses paid by Samad and Sons in the Soyabin oil example is:

Total cost price of Soyabin oil for Samad and Sons is:

Per litre cost price of Samad and Sons Soyabin oil is:

Selling price is determined by adding to total cost of goods purchased:

Which of the following is an indirect expense?

Which is an indirect expense for a trading concern?

Travelling expense incurred to sell goods is a/an:

Total cost of goods purchased equals cost price plus:

In the Soyabin selling-price example, total indirect expenses are:

Indirect expenses in the Soyabin selling-price example include all of the following EXCEPT:

Total cost of Soyabin oil in the selling-price example is:

Desired profit at 10% on total cost (Tk 6,29,200) equals:

Selling price of total Soyabin oil is:

Per litre selling price of Soyabin oil is:

Salary paid to the staff of a trading concern is treated as:

Electricity bill of the shop is recorded under:

Advertisement expense is shown as a/an:

Selling price equals total cost plus:

Nasir Enterprise imported Corrugated Iron Sheets from:

Total purchase price of 1,000 bundles of CI sheets at Tk 4,000 per bundle is:

Direct expenses for Nasir Enterprise total:

Which of the following is a direct expense in the Nasir Enterprise example?

Cost price of Nasir Enterprise is:

Indirect expenses for Nasir Enterprise total:

Sales commission paid by Nasir Enterprise (Tk 10 per bundle for 1,000 bundles) is:

Total cost of Nasir Enterprise is:

Desired profit at 15% on Tk 41,56,000 equals:

Selling price of CI sheets for Nasir Enterprise is:

Cost per bundle of CI sheet is:

Selling price per bundle of CI sheet is:

Godown rent and shop rent in Nasir Enterprise are treated as:

Employees' salary in Nasir Enterprise example is classified as:

Sales commission per bundle paid by Nasir Enterprise is:

Hannan and Bros purchased pump machines from:

Total purchase price of 200 pump machines at Tk 5,000 each is:

Total direct expenses paid by Hannan and Bros are:

Cost price of Hannan and Bros pump machines is:

Total indirect expenses paid by Hannan and Bros are:

Total cost for Hannan and Bros is:

Profit at 25% on total cost (Tk 10,35,700) is:

Selling price for Hannan and Bros is:

Transportation insurance is treated as:

Warehouse rent of a trading firm is treated as:

Paying expenses of all kinds for producing or purchasing any product is called:

The amount paid for acquiring any economic wealth is called:

Cost of any product is the sum total of all expenses incurred at:

Cost of furniture production includes expenses for:

Cost of brick manufacturing includes expenses for:

One of the basic objectives of cost accounting is achieving expected profit through:

Cost of production plays a vital role in:

Selling price of a product is fixed only after correctly determining its:

Determination of total cost and per unit cost of any goods is necessary mainly to:

Recording of all direct and indirect cost elements helps to:

Determination of cost of production helps to keep track of losses with regard to:

Cost of production helps to control and reduce:

Existence and success of a business majorly depend on:

The prime objective of business is to:

Net income or loss can easily be ascertained through:

Determination of production cost is important to determine the actual value of inventory after:

Comparison between predetermined and actual cost helps to:

Determining cost of production helps in fixation of:

While fixing selling price using cost as a strategy, the firm considers:

The guide line of future action plan is the:

Total cost budget can easily be prepared because:

Determination of production cost plays an important role in:

Economic feasibility of a project is evaluated:

Which of the following is an objective of cost of production?

Which of the following is NOT an objective of determining cost of production?

Determining responsibility for cost overruns is part of:

After per unit cost is determined, the desired percentage of profit is added with:

The total cost of any product can be divided into how many main heads?

The three main heads of cost elements are:

Each of the three cost elements is sub-divided into:

Materials primarily used in production and considered inseparable parts of the goods are:

Direct raw materials are included in determining:

Which is an example of direct raw material?

Sugarcane used to produce sugar is an example of:

Materials other than direct raw materials used for production are:

Which of the following are examples of indirect raw materials for shoe and shirt making?

Screw and wire used in making furniture are examples of:

In a book publishing company, paper is treated as:

Workers directly related with production are called:

Payment made to workers for transforming raw materials into finished product is called:

Which of the following is an example of direct labour?

Workers not directly related to production but who help production are called:

The manager's salary in a ready-made garments factory is treated as:

Indirect labour helps in production by:

The wages paid to a sewing operator in a garment factory is treated as:

Wages paid to factory machine operators are part of:

Indirect wages are classified as part of:

Expenses incurred neither for direct raw materials nor direct labour but directly charged to production are called:

Direct expenses are also called:

Which of the following are examples of direct (chargeable) expenses?

In contractual job, tender purchase cost and travelling cost for tender are treated as:

Expenditure incurred in production process which cannot be identified separately is called:

Screw expenditure for making furniture is treated as:

Indirect expenses are also known as:

Indirect expenses or overhead are sub-divided into how many categories?

The three categories of overhead are:

In shoe production, making molds or forms is treated as:

All factory costs related to production other than direct materials and direct labour are:

Which of the following is an example of factory overhead?

Repair of factory building is classified under:

Depreciation on machinery is part of:

Fuel and power consumed in factory is classified under:

Factory rent is treated as:

According to Sample MCQ 1, factory overhead is composed of:

Miscellaneous factory expenses fall under:

Expenses related to office and administration are called:

Which of the following is an example of office overhead?

Salary for office staff is part of:

Printing and stationery for office use is part of:

Conveyance and legal expenses are part of:

Sample MCQ 7: Office overhead includes:

Salary of managing director is treated as:

Office expenses such as postage and telegram are recorded under:

The sum total of indirect expenses incurred for the sale of finished goods is termed:

Selling and distribution overhead includes expenses for:

Which of the following is selling overhead?

Carriage outward is treated as:

Salary and commission paid to sales manager or sales representative are part of:

Showroom rent is classified under:

Expenses related to after-sales servicing and repairing/changing of goods are included in:

Sample MCQ 8: Which one is a selling overhead?

Mass communication expenses (advertisement-type) are treated as:

Salesmen salaries and commission are recorded as:

A statement where elements of cost regarding production are systematically arranged for a specific time is called:

Cost sheet is usually prepared by:

Cost sheet can be prepared:

Cost sheet can be prepared in how many stages?

The three statements typically prepared as cost sheet are:

Prime cost equals direct material plus direct wages plus:

Prime cost plus factory overhead equals:

Conversion cost equals direct labour plus:

Cost of goods manufactured equals production cost plus beginning WIP minus:

Total cost equals production cost plus:

Selling price minus estimated profit equals:

Raw material used equals beginning inventory of raw material plus net purchase of raw material minus:

Cost of goods available for sale equals beginning inventory of finished goods plus:

Sample MCQ 9: Cost of goods sold equals:

Net sales equals sales minus:

Gross profit equals net sales minus:

Net operating income equals gross profit minus:

Operating cost in the comprehensive income statement consists of:

The income statement that shows gross profit and net operating income is called:

The order of preparing cost statements is:

Beginning finished goods + cost of goods manufactured − ending finished goods equals:

Carriage inward in the raw material section is added to:

Beginning inventory of raw materials in Simanta Food Product is:

Cost of raw materials available for use is:

Raw material used by Simanta Food Product is:

Cost of packing materials consumed (treated as direct expense) is:

Prime cost of Simanta Food Product is:

Total factory overhead in Simanta Food Product is:

Production cost of Simanta Food Product is:

Cost of goods manufactured by Simanta Food Product is:

Cost of goods available for sale is:

Cost of goods sold by Simanta Food Product is:

Gross profit of Simanta Food Product is:

Office and administrative overhead of Simanta Food Product is:

Selling and distribution overhead of Simanta Food Product is:

Total operating cost of Simanta Food Product is:

Net operating income of Simanta Food Product is:

Sample MCQ 4: Total amount of sales is:

Sample MCQ 5: Amount of profit is:

Sample MCQ 6: Amount of total overhead is:

Sample MCQ 2: Expenses included in production cost are:

Sample MCQ 3: Chargeable expense in shoe production is:

Sample MCQ 10: In a book publishing company, cost of paper is:

Shaheen Fruit Corner purchased mangoes from:

Number of baskets purchased by Shaheen Fruit Corner is:

Total weight (kg) of mangoes initially purchased is:

Quantity of saleable mangoes after 10 baskets damaged is:

Total purchase cost of 200 baskets at Tk 500 each is:

Total packing cost (Tk 20 per basket × 200 baskets) is:

Total direct cost of mangoes (purchase + truck rent + packing) is:

Considering total cost of Tk 1,15,000 and profit 20% on cost, selling price is:

Selling price per basket (using 190 saleable baskets and total selling Tk 1,38,000) is approximately:

Selling price per kg (using 1,900 kg and total selling Tk 1,38,000) is approximately:

Amin Paper House purchased paper at the rate of:

Amin Paper House paid for labour:

Transportation cost paid by Amin Paper House is:

Indirect expenses (shop rent + electricity & telephone + salesman commission) for Amin Paper House total:

Profit per quire earned by Amin Paper House is:

Considering total cost of sold paper is Tk 40,000 and profit Tk 2 per quire, on a basis of 2,000 quires the per quire selling price is:

Shop rent of Amin Paper House is treated as:

Shapla Printers received an order from:

Number of diaries to be produced is:

Cost of paper purchased by Shapla Printers is:

Cost of printing ink purchased is:

Direct wages of Shapla Printers is:

Glue and cotton purchased for diaries is treated as:

Factory overhead of Shapla Printers (factory rent + factory electricity + glue & cotton) is:

Conversion cost (direct wages + factory overhead) of Shapla Printers is:

Tender price quoted per diary is:

Bill collection cost (2% of total tender price for 5,500 diaries) is:

Considering total production cost of Tk 1,25,000 for 5,500 diaries, production cost per diary is approximately:

With production cost per diary Tk 22.73 and tender price Tk 35, gross profit per diary is approximately:

Total sales of Sonali Garments in May 2025 is:

Purchase of fabric for Sonali Garments is:

Cost of raw materials used (purchase + transportation − unused fabric) is:

Total wages of workers in Sonali Garments is:

Buttons and other materials cost is treated as:

Factory overhead of Sonali Garments (buttons + incidental factory cost) is:

Production cost (raw material used + wages + factory overhead) of Sonali Garments is:

Beginning work-in-process of Sonali Garments is:

Cost of goods manufactured (production cost + beginning WIP) is:

Cost of goods sold (COGM + Beg FG − End FG) for Sonali Garments is:

Considering cost of goods sold is Tk 18,50,000, gross profit on sales of Tk 30,00,000 is:

Showroom rent in Sonali Garments is treated as:

Period covered by Ashraf and Co information is:

Quantity of bricks produced by Ashraf and Co is:

Direct material cost (purchase of soil + soil transportation) is:

Direct labour (workers' wages) for Ashraf and Co is:

Cost of soil sieving (other direct expense) is:

Prime cost of Ashraf and Co is:

Factory overhead (fuel + brickfield rent and electricity for 3 months) is:

Production cost of Ashraf and Co for the quarter is:

Cost of goods sold for Ashraf and Co is:

Gross profit on bricks sold (Sales 16,00,000 − COGS 8,57,000) is:

Total operating cost (office + selling overhead) for Ashraf and Co is:

Net income / profit of Ashraf and Co is:

Purchase cost means:

Production cost means:

Indirect raw material is best described as:

Overhead means:

Conversion cost means the cost of:

Production cost statement is a statement showing:

Beginning finished units + Units produced equals:

Carriage outward is recorded as: