Cost Accounting

1Under marginal costing, closing inventory is valued at

2A firm sells 5,000 units at GH¢20 each; variable cost is GH¢12 per unit and fixed costs are GH¢25,000. Its margin of safety in units is

3The contribution/sales ratio for price GH¢50 and variable cost GH¢30 is

4Selling price GH¢20, variable cost GH¢12, fixed costs GH¢16,000. Break-even point is

5Process costing is used where

6Under absorption costing, if production exceeds sales, profit compared with marginal costing is

7The contribution to sales ratio is also known as the

8Fixed costs GH¢30,000; contribution per unit GH¢6; target profit GH¢12,000. Units required are

9Contribution per unit is

10A product sells for GH¢20 and has a variable cost of GH¢12 per unit. Its contribution/sales ratio is