Normal stores losses are:
1.Part of prime cost
2.Part of production overheads
3.Part of selling and distribution overheads
4.Written-off to costing and profit and loss account
Posted Date:-2021-11-19 11:23:08
A method of dealing with overheads involves spreading common costs over cost centres on the basis of benefit received. This is known as
1.Overhead absorption
2.Overhead apportionment
3.Overhead identification
4.Overhead analysis
Posted Date:-2021-11-19 11:14:51
A variable cost is?
1.One which varies in proportion to the level of fixed cost incurred.
2.One which tends to vary with the level of activity.
3.One which changes over time.
4.One which cannot be estimated with any great degree of accuracy.
Posted Date:-2021-11-19 11:08:43
About 50 items are required every day for a machine. A fixed cost of 50 per order is incurred for placing an order. The inventory carrying cost per item amounts to Re. 0.02 per day. The lead period is 32 days. Compute reorder level.
1.1,200 items
2.1,400 items
3.1,600 items
4.1,800 items
Posted Date:-2021-11-19 11:22:44
Annual requirement is 7800 units; consumption per week is 150 units. Unit price 5, order cost 10 per order. Carrying cost 1 per unit and lead time is 3 week, The Economic order quantity would be.
1.395 units
2.300 units
3.250 units
4.150 units
Posted Date:-2021-11-19 11:15:14
At the start of the quarter there were 14,630 workers. 750 employees left during the quarter while 600 joined the organization during the same period. Using the flux method, the labour turnover was:
1.5.13%
2.9.23%
3.9.32%
4.9.28%
Posted Date:-2021-11-19 11:24:42
Cost unit in a college may be
1.teacher
2.Non teacher staff
3.Student
4.Number of departments
Posted Date:-2021-11-19 11:21:02
Depreciation is a:
1.Measure of consumption of assets
2.Process of allocation and not of valuation
3.Wear and tear due to use and/or lapse of time
4.All of the above
Posted Date:-2021-11-19 11:23:30
Favorable conditions for the operation of piece rates include:
1.Homogeneous products
2.Long, uninterrupted run of production
3.Inspection
4.High proportion of indirect labour
Posted Date:-2021-11-19 11:25:35
Group bonus schemes are generally suitable where:
1.Output depends on individual efforts
2.Output of individual workers can be measured easily
3.It is necessary to create a collective interest in the work
4.Normal loss rate is high
Posted Date:-2021-11-19 11:12:55
How many units would the company have to sell to attain target profits of 600,000?
1.48,000 units
2.88,000 units
3.106,668 units
4.None of given options
Posted Date:-2021-11-19 11:18:30
If Cost of goods sold = 40,000; GP Margin = 20% of sales Calculate the Gross profit margin.
1.32,000
2.48,000
3.8,000
4.10,000
Posted Date:-2021-11-19 11:19:23
If time allowed for a job is 10 hours, time taken for the job is 8 hours and rate of pay is 2 per hour, the bonus to the worker is:
1.1.20
2.2.00
3.3.20
4.None of the above
Posted Date:-2021-11-19 11:20:13
If, COGS = 50,000 GP Margin = 25% of sales what will be the value of Sales?
1.200,000
2.66,667
3.62,500
4.None of the given options
Posted Date:-2021-11-19 11:17:13
In automobile industry cost unit is
1.Number
2.Automobile quality
3.Number of automobile industry
4.Either (a) or (c)
Posted Date:-2021-11-19 11:09:08
Interest on own capital is a:
1.Cash cost
2.Notional cost
3.Sunk cost
4.Part of prime cost
Posted Date:-2021-11-19 11:10:47
Labour cost control embraces the following activities except:
1.Recruitment and promotion
2.Formulation of wage policy and payment and accounting for wages
3.Allocation of cost
4.Preparation of financial statement
Posted Date:-2021-11-19 11:12:29
Material control aims at achieving effective __________ management.
1.Marketing
2.Production
3.Organization
4.Material
Posted Date:-2021-11-19 11:10:00
Out of pocket payment involves payment to
1.Managers
2.Promoters
3.Directors
4.Outsiders
Posted Date:-2021-11-19 11:09:35
Percentage of Margin of Safety can be calculated in which one of the following ways?
1.Based on budgeted Sales
2.Using budget profit
3.Using profit & Contribution ratio
4.All of the given options
Posted Date:-2021-11-19 11:18:57
Productive causes of idle time include the following except:
1.Power failure
2.Fall in demand
3.Machine breakdown
4.Waiting for materials, tools, instructions, etc.
Posted Date:-2021-11-19 11:24:18
Raymond Corporation estimates factory overhead of 345,000 for next fiscal year. It is estimated that 60,000 units will be produced at a material cost of 575,000. Conversion will require 34,500 direct labor hours at a cost of 10 per hour, with 25,875 machine hours. FOH rate on the bases on Budgeted Production would be?
1.5.75 per unit
2.6.65 per unit
3.6.0 per unit
4.1 per unit
Posted Date:-2021-11-19 11:10:23
Regular maintenance expenses are:
1.Capitalized
2.Part of manufacturing overheads
3.Written-off to costing profit and loss account
4.Part of prime cost
Posted Date:-2021-11-19 11:23:54
Sales commissions are classified as
1.Prime costs
2.Period costs
3.Product costs
4.Indirect labour
Posted Date:-2021-11-19 11:08:17
Some overhead charges tend to vary almost directly, some tend to remain constant while some again vary in part with the volume and in part remain constant. This statement describes sequentially the following:
1.Variable, fixed and semi-variable overheads
2.Fixed, semi-variable and variable overheads
3.Semi-variable, variable and fixed overheads
4.Variable, semi-variable and fixed overheads
Posted Date:-2021-11-19 11:14:25
Stores ledger is maintained in the ______________ department.
1.Cost accounting
2.Stores
3.Purchase
4.Production
Posted Date:-2021-11-19 11:22:21
The authorized heads of deduction from wages payable include the following except:
1.Car allowance
2.Income tax
3.Provident fund
4.Employees'state insurance
Posted Date:-2021-11-19 11:20:38
The contribution margin ratio is calculated by using which one of the given formula?
1.(Sales - Fixed Expenses)/Sales
2.(Sales - Variable Expenses)/Sales
3.(Sales - Total Expenses)/Sales
4.None of the given options
Posted Date:-2021-11-19 11:05:28
The cost of goods sold is equal to
1.Total Purchases - Total Sales.
2.Opening stock + Total Purchase.
3.Opening stock - Total Purchases +Closing Stock+ Direct Costs.
4.Opening stock + Total Purchases - Closing Stock + Direct Costs.
Posted Date:-2021-11-19 11:25:09
The difference between gate time and time booked for jobs in respect of a worker in due to the following reasons except:
1.Change-over time
2.Illness
3.Waiting for materials, instructions, etc.
4.Breakdown of machine
Posted Date:-2021-11-19 11:19:50
The Economic order quantity can be calculated by
1.Formula Method
2.Table Method
3.Graph Method
4.All of the given
Posted Date:-2021-11-19 11:17:37
The inventory method where the cost per unit is recomputed after every addition in the inventory is known as.
1.Specific identification method.
2.Moving average method.
3.Last-in- First - Out method.
4.First-in-First-Out method.
Posted Date:-2021-11-19 11:26:44
The purposes served by preparation of payroll or wages sheet include:
1.Spreading the volume of work to be done
2.Computation of labour rate for each department
3.Comparing actual wages with budgeted wages for control
4.All of the above
Posted Date:-2021-11-19 11:07:47
The purposes served by preparation of payroll or wages sheet include:
1.Spreading the volume of work to be done
2.Computation of labour rate for each department
3.Comparing actual wages with budgeted wages for control
4.All of the above
Posted Date:-2021-11-19 11:26:00
The short run is a time period in which:
1.All resources are fixed.
2.The level of output is fixed.
3.The size of the production plant is variable.
4.Some resources are fixed and others are variable
Posted Date:-2021-11-19 11:15:38
The unavoidable causes of labour turnover include the following except:
1.Personal betterment
2.Dissatisfaction with the job
3.Illness
4.Retirement
Posted Date:-2021-11-19 11:12:06
Time study serves the following purposes except:
1.Standardizing jobs, operation etc.
2.Assessing labour time
3.Fixation of factory overhead rate
4.Fixation of wage rates and introduction of incentive schemes
Posted Date:-2021-11-19 11:07:09
What is the company's break-even in units?
1.48,000 units
2.72,000 units
3.80,000 units
4.None of the given options
Posted Date:-2021-11-19 11:04:47
When prices are rising over time, which of the following inventory costing methods will result in the lowest gross margin/profits?
1.FIFO
2.LIFO
3.Weighted Average
4.Cannot be determined
Posted Date:-2021-11-19 11:16:25
Which of the following inventory valuation methods shows higher profits during the period of rising prices?
1.FIFO method.
2.LIFO method.
3.Weighted average method.
4.Simple average method.
Posted Date:-2021-11-19 11:13:18
Which of the following is / are time based incentive wage plan?
1.Hasley Premium Plan
2.Hasley Weir Premium Plan
3.Rowan Premium Plan
4.All of the given options
Posted Date:-2021-11-19 11:15:59
Which of the following is a mechanical device to record the exact time of the workers?
1.Clock Card
2.Store Card
3.Token System
4.Attendance Register
Posted Date:-2021-11-19 11:16:48
Which of the following is not a production cause of idle capacity?
1.Set-up and change-over time
2.Lack of supervision and instruction
3.Lack of materials and tools
4.Strike
Posted Date:-2021-11-19 11:11:44
Which of the following is NOT an assumption of the basic economic-order quantity model?
1.Annual demand is known
2.Ordering cost is known
3.Carrying cost is known
4.Quantity discounts are available
Posted Date:-2021-11-19 11:03:59
Which of the following is/are the basic object/s of job analysis?
1.Determination of wage rates
2.Ascertain the relative worth of each job
3.Breaking up job into its basic elements
4.All of the given options
Posted Date:-2021-11-19 11:11:19
Which of the following represents a CVP equation?
1.Sales = Contribution margin (Rs.) + Fixed expenses + Profits
2.Sales = Contribution margin ratio + Fixed expenses + Profits
3.Sales = Variable expenses + Fixed expenses + profits
4.Sales = Variable expenses -Fixed expenses + profits
Posted Date:-2021-11-19 11:06:07
While preparing the Cost of Goods Sold and Income Statement, the over applied FOH is;
1.Add back, subtracted
2.Subtracted, add back
3.Add back, add back
4.Subtracted, subtracted
Posted Date:-2021-11-19 11:18:00
Work cost is the total of
1.Direct cost
2.Indirect cost
3.Variable cost
4.Controllable cost
Posted Date:-2021-11-19 11:21:25
______ method assumes that the goods received most recently in the stores or produced recently are the first ones to be delivered to the requisitioning department.
1.FIFO
2.Weighted average method
3.Most recent price method
4.LIFO
Posted Date:-2021-11-19 11:06:42
_______ represents that quantity of material which is normally ordered when a particular material reaches the ordering level.
1.EOQ
2.BOQ
3.EBQ
4.Re-order period
Posted Date:-2021-11-19 11:21:50