COST ACCOUNTING
JOB ORDER COSTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The estimated total cost of production is divided by the estimated total units in the allocation base
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The estimated total BOP is divided by the estimated total units in the allocation base
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The estimated total units on the allocation basis multiplied by the actual total units in the current period
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total BOP Actual-Total BOP charged
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Detailed explanation-1: -What Is the Formula for Balance of Payments? The formula for calculating the balance of payments is current account + capital account + financial account + balancing item = 0.
Detailed explanation-2: -The prominent factors on which the nation’s balance of payments situation tends to depend are the balance of trade, exchange rate movement, inflation, industrial production and Gross Domestic Product (GDP).
Detailed explanation-3: -A BOP statement of a country indicates whether the country has a surplus or a deficit of funds, i.e. when a country’s export is more than its import, its BOP is said to be in surplus. On the other hand, the BOP deficit indicates that its imports are more than its exports.
Detailed explanation-4: -The balance of payments summarises the economic transactions of an economy with the rest of the world. These transactions include exports and imports of goods, services and financial assets, along with transfer payments (like foreign aid).