CUET-PG SERIES Economics
Estimation And Costing
10 previous year questions.
Volume: 10 Ques
Yield: Medium
High-Yield Trend
10
2023 Chapter Questions 10 MCQs
01
PYQ 2023
hard
economics ID: cuet-pg-
The total cost of manufacturer is C=5000+1000q-500q²+ 2q3/3.The value of q for which MC = AVC will be :-
1
750/3
2
375
3
125
4
500
02
PYQ 2023
medium
economics ID: cuet-pg-
A firm produces chair, table and cupboards, each require three types of raw materials - timber, nails and varnish. The units of different raw materials required for producing one units of each product is as under: Product Timber (c.ft) Chair Table 0.7 1 Nails (dozen) 2 Varnish (liters) 1 4 1.5 Cupboard 3.2 16 2 If the firm produces 300 units of each product, find the quantity of each raw material. (in c.ft., dozen, liter) respectively would be:
1
Timber =3600, Nail = 1350, Varnish = 1470
2
Timber =1110, Nail 1950, Varnish = 3360
3
Timber =3360, Nail = 1950, Varnish = 1110
4
Timber =1470, Nail = 3600, Varnish = 1350
03
PYQ 2023
medium
economics ID: cuet-pg-
AB Ltd uses the following standard mix for production of 'A' goods. 50 kgs. of material X at standard price ₹.20, 20 kgs of material Y at standard price ₹ 40. The Actual mix was:
60 kgs of material X
10 kgs. of material Y
what will be material mix variance ?
60 kgs of material X
10 kgs. of material Y
what will be material mix variance ?
1
₹100 (Unfavorable)
2
₹400 (Favorable)
3
₹200 (Favorable)
4
₹150 (Unfavorable)
04
PYQ 2023
medium
economics ID: cuet-pg-
Which type of costing technique is appropriate in the following situations:
When each work is Unique.
When each work is easily identifiable
when costs are assigned to, and Accumulated for each work.
When each work is Unique.
When each work is easily identifiable
when costs are assigned to, and Accumulated for each work.
1
Job costing
2
Process costing
3
Unit Costing
4
operating costing
05
PYQ 2023
medium
economics ID: cuet-pg-
The cost of second best alternative is known as:
1
Relevant cost
2
opportunity cost
3
Incremental cost
4
Responsibility cost
06
PYQ 2023
medium
economics ID: cuet-pg-
The technique in which only variable costs are taken into Account for the purpose of product costing, inventory valuation and other allied important management decisions is known as :
1
Absorption costing
2
Marginal costing
3
Standard costing
4
Job costing
07
PYQ 2023
medium
economics ID: cuet-pg-
If and are the opportunity costs of producing X in terms of Y in countries A and B, and is the international price ratio of X to Y. Both the Py countries will go for complete specialization when
1
2
3
4
08
PYQ 2023
medium
economics ID: cuet-pg-
Suppose z = f(x, y) is homogeneous of degree k. Which of the following statements is true?
1
is homogeneous of degree (k-2)
2
is homogeneous of degree (k-1)
3
is homogeneous of degree (k-2)
4
is homogeneous of degree (k-1)
09
PYQ 2023
medium
economics ID: cuet-pg-
Identify the odd one out from the following, with regards to 5C's of event management:
1
Costing
2
Canvassing
3
Coping
4
Carrying out
10
PYQ 2023
medium
economics ID: cuet-pg-
What does CPA stands for, in relation to consumerism?
1
Consumer Proposition Act
2
Consumer Preservation Act
3
Consumer Protection Act
4
Consumer Productivity Act