• Which of these is the function of estimating?

a. To determine material cost

b. To determine labour cost
c. To determine selling price
d. All of the above

• Which of these is constituent of job estimate

a. design time
b. drafting time
c. planning and production time
d. all of the above

• The process of calculating the probable cost of a product before the start of manufacturing
is......

• The system which records all the expenditure to determine the cost of manufactured product
is known as.....

• The person who prepares the cost estimate is known as.....

• The indirect expenses which include all the expenses except direct labour direct material and
direct expenses involved in the manufacturing operations are....

• The cost of sequence of operations which begins with supplying material labour and services
and ends with packaging of the product is known as..

• Which of these is obtained by adding the total cost of production and profit?
a. capital investment
b. selling price
c. overheads
d. none of above

• Which of these is element of cost

a. materials
b. labour
c. expenses
d. all of the above

• which of these is not the component of cost

a. prime cost
b. factory cost
c. selling price
d. none of the above

• The sum of total cost and profit or loss is....

• The sum of direct material direct labour and direct expenses is known as...

• The sum of factory cost and administrative expenses is known as

• The sum of manufacturing cost and sales and distribution expenses is known as...

• The indirect expenses which include all the expenses except direct labour direct material and
direct expenses occurred in production and distribution of product to the customer is known
as....

• Which of these is not the production overhead?

a. building expenses
b. administration overheads
c. plant maintenance
d. water fuel and power

• Which of these is the type of overheads?

a. selling overheads
b. distribution overheads
c. administration overheads
d. all of the above

• In an industry idleness is due to

a. machine not working
b. workers not working
c. both a and the
d. none of the above

• Which one of these is not the cause of idleness of machine

a. power failure
b. non availability of raw material
c. poor scheduling of machines
d. lack of supervision

• The reduction in the value of effective life of the machine or equipment with the passage of
time due to wear and tear or any physical damage is known as..

• Which of these is not the cause of depreciation?

a. physical decay
b. accident
c. Idleness
d. obsolescence
• Which of these is the method of calculating depreciation

a. straight line method

b. insurance policy method
c. sum of the year digit method
d. all of the above

• Learn formulas of various methods of calculating depreciation.

• The system of accounts which records every expenditure systematically and accurately in
order to determine the cost of a product is known as....

• Which of these is the method of costing

a. batch costing
b. job costing
c. departmental costing
d. all of the above

• Factory has total overheads of rupees 10 lacs for the year 2018 19 while the total wages paid
to the direct labour for the above period is rupees 40 lakh find out the percentage overheads
by percentage on direct labour cost method..

a 25 %
b 30%
c 20%
d 35%

• Foundry shop producing water metre board is has rupees 6 lacs total overheads wild material
cost is 30 lacs. Find out the percentage overheads by percentage on direct material cost
method.

a 30%
b 25%
c 20%
d 15%

• Which of these is the correct formula for men hour rate?

• Which of these is a correct formula for machine hour rate?

• Which of these is a correct formula for unit rate method?

• Effective produce 6000 machine per year if the total overheads during the year is of rupees
900000 find out the overhead cost on each machine.

a 200
b 175
c 150
d 125

• Which of these is not the miscellaneous allowance?

a personal allowance
b fatigue allowance
c checking allowance
d None of the above

• When the cutting to stop functioning it requires sharpening or replacement this type of
allowance is known as

• The time to perform machining operation consist of

a manipulating time
b cutting time
c both a and b
d none of the above

• What is the full form of FFT….. ans - Floor to floor time

• Learn definition and formula or setup time machine time handling time dear down time
servicing time organisational time personal and fatigue allowances cycle time standard unit
time, total time, cutting speed, feed and depth of cut.

• cutting speed depends upon which factor

a machinability of material
b material of cutting tool
c feed and depth of cut
d all of the above

• Find the cutting speed of a piece of carbon Steel of 6 CM diameter and rotating at 240 rpm

a 45.24 m/min
b 47.34 m/min
c 42.44 m/min
d none of the above
• Find the time for finishing a surface of size 120 cm x 230 cm on a planning machine take
cutting speed and feed as 12 metre per minute and 0.1 cm per stroke

a 58 min
b 56.39 min
c 55.3 min
d 54.4 min

• for estimating the gas welding cost, which factor should be consider

a preparation cost
b material cost
c finishing cost
d all of the above

• Estimation in foundry shop consist of

a direct material cost

b direct labour cost
c overhead cost
d all of the above
-

a) Cost Accounting is helpful in finding the ______________

b) For a single Component, ______________ Costing is done
c) Estimation helps in
 d) Due to exertion, inconvenient posture ___________ allowance is given
e) Perimeter of Square =
f) Volume of Cylinder =
g) The Budget associated with a particular function and integrated with
master budget is known as _____________
h) A Good Cost Estimator Should have
i) Weight =
j) For a Sphere, Volume =

Short Questions For 4/5 Marks

1. Differentiate between estimating and costing.

2. What are the aims or objectives or functions or Importance of estimating?

3. Who is cost estimator and what are its qualifications or qualities?

4. What are the types of estimate?

5. What are the aims or objectives of costing?

6. What are the aims or objectives of costing?

7. What are the advantages of costing/cost accounting?

8. Explain in brief the various types of overheads.

9. What is depreciation and what are the causes of depreciation?

10. Differentiate between financial accounting and cost accounting.

11. Explain all miscellaneous allowances in brief.

12. Estimation procedure of Gas welding cost with numerical.

13. Estimation procedure of Gas cutting cost with numerical.

14. Estimation procedure of Arc welding cost with numerical.

15. Estimation procedure of forging cost with numerical.

16. Estimation procedure of foundry cost with numerical.

Long Questions For 10 mark

1. Write down the estimating procedure.

2. Explain the various (constituents of job estimates) / (principal factors in estimating).

3. Explain the various elements of costing and how to calculate them.

4. What are the components of costs? Show them in costing ladder diagram.

5. What are the various methods of calculating depreciation? Explain any 3.

6. Name methods of costing and explain them.

7. Numerical on estimation of volumes, weights and cost of material for items like pulley, step
pulley, spindle, fly wheel(as we did in class)

8. What is budget and what are its types?

9. Numerical on estimation of time for various machining operations like turning, drilling, boring (as
we did in class)