The cost of goods sold is equal to

  1. Home
  2. Back

Question:
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

More MCQS Questions and answers

  1. Normal stores losses are:
  2. A method of dealing with overheads involves spreading common costs over cost centres on the basis of benefit received. This is known as
  3. A variable cost is?
  4. 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.
  5. 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.
  6. 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:
  7. Cost unit in a college may be
  8. Depreciation is a:
  9. Favorable conditions for the operation of piece rates include:
  10. Group bonus schemes are generally suitable where:
  11. How many units would the company have to sell to attain target profits of 600,000?
  12. If Cost of goods sold = 40,000; GP Margin = 20% of sales Calculate the Gross profit margin.
  13. 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:
  14. If, COGS = 50,000 GP Margin = 25% of sales what will be the value of Sales?
  15. In automobile industry cost unit is
  16. Interest on own capital is a:
  17. Labour cost control embraces the following activities except:
  18. Material control aims at achieving effective __________ management.
  19. Out of pocket payment involves payment to
  20. Percentage of Margin of Safety can be calculated in which one of the following ways?
  21. Productive causes of idle time include the following except:
  22. 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?
  23. Regular maintenance expenses are:
  24. Sales commissions are classified as
  25. 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:
  26. Stores ledger is maintained in the ______________ department.
  27. The authorized heads of deduction from wages payable include the following except:
  28. The contribution margin ratio is calculated by using which one of the given formula?
  29. The cost of goods sold is equal to
  30. The difference between gate time and time booked for jobs in respect of a worker in due to the following reasons except:
  31. The Economic order quantity can be calculated by
  32. The inventory method where the cost per unit is recomputed after every addition in the inventory is known as.
  33. The purposes served by preparation of payroll or wages sheet include:
  34. The purposes served by preparation of payroll or wages sheet include:
  35. The short run is a time period in which:
  36. The unavoidable causes of labour turnover include the following except:
  37. Time study serves the following purposes except:
  38. What is the company's break-even in units?
  39. When prices are rising over time, which of the following inventory costing methods will result in the lowest gross margin/profits?
  40. Which of the following inventory valuation methods shows higher profits during the period of rising prices?
  41. Which of the following is / are time based incentive wage plan?
  42. Which of the following is a mechanical device to record the exact time of the workers?
  43. Which of the following is not a production cause of idle capacity?
  44. Which of the following is NOT an assumption of the basic economic-order quantity model?
  45. Which of the following is/are the basic object/s of job analysis?
  46. Which of the following represents a CVP equation?
  47. While preparing the Cost of Goods Sold and Income Statement, the over applied FOH is;
  48. Work cost is the total of
  49. ______ 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.
  50. _______ represents that quantity of material which is normally ordered when a particular material reaches the ordering level.
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!