Question
Match the following cost components in List – I with their examples in List – II.List – I List – II a. Food costs i. Equipment repair b. Labour costs ii. Electricity c. Overhead costs iii. Raw materials d. Maintenance costs iv. Employee uniforms
The correct answer is
a-iii, b-iv, c-ii, d-i
Cost Components Matching: List I & II
This section explains the matching of cost components from List I with their corresponding examples in List II.
Analysis of Matches
- a. Food costs: These are direct costs related to the primary inputs. The most fitting example from List II is iii. Raw materials.
- b. Labour costs: These represent expenses incurred for employees. iv. Employee uniforms is a cost directly associated with the workforce.
- c. Overhead costs: These are indirect expenses necessary for business operations. ii. Electricity is a common example of such costs.
- d. Maintenance costs: These costs pertain to the upkeep of assets. i. Equipment repair clearly falls under this category.
Final Matching
Based on the analysis, the correct pairings are:
- a - iii
- b - iv
- c - ii
- d - i
These matches align with the first option provided.
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Important Questions from Cost accounting
Which of the following is not a method of costing ?
Abnormal loss is equal to
Which of the following items is included in cost Accounts:
What will be the impact of normal loss on the overall per unit cost?
Job costing is also termed as ___________.
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