Which of the following is calculated by a formula that uses net sales as denominator?

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Question:
Which of the following is calculated by a formula that uses net sales as denominator?

1.Inventory turnover ratio

2.Gross profit rate

3.Return on Investment

4.None of the given options

Posted Date:-2021-11-19 03:57:32

More MCQS Questions and answers

  1. (1) Payment of higher wages does not necessarily mean that labour cost per unit is high. (2) Control over payment of wages aims at reducing or eliminating irregularities during actual disbursements. True or False?
  2. A manufacturing firm is very busy and is working overtime. The amount of overtime premium contained in direct wages would normally be classed as:
  3. An opportunity cost is a
  4. An overhead absorption rate is used to:
  5. Angle of incidence defines:
  6. Contribution margin contributes to meet which one of the following options?
  7. Cost accountancy is the science, art and ______________ of cost accountant.
  8. Cost of production is equal to
  9. Depreciation on plant and machinery is:
  10. Favorable conditions for the operation of piece rates include:
  11. Find the value of purchases if Raw material consumed 90,000; Opening and closing stock of raw material is 50,000 and 30,000 respectively.
  12. For exercising control over selling and distribution overheads, the following techniques may be used:
  13. Functionally, administration expenses may comprise expenses of the following activities:
  14. If 120 units produced, 100 units were sold @ 200 per unit. Variable cost related to production & selling is 150 per unit and fixed cost is 5,000. If the management wants to decrease sales price by 10%, what will be the effect of decreasing unit sales price on profitability of company?
  15. If Direct Material = 12,000; Direct Labor = 8000 and other Direct Cost = 2000 then what will be the Prime Cost?
  16. If Happy Ltd. Is subject to an effective income tax rate of 40%, the number of units Happy Ltd. Would have to sell to earn an after-tax profit of 90,000 is:
  17. If there has been an over recovery of overheads, at the end of the accounting period the amount concerned should be?
  18. If you know that with 8 units of output, average fixed cost is 12.50 and average variable cost is 81.25, then total cost at this output level is:
  19. In a perpetual inventory system, an inventory flow assumption (i.e. LIFO or FIFO) is used primarily for determining costs which are used in
  20. In a profit sharing scheme the available surplus is shared by the following except:
  21. In a shutdown decision, one has to consider:
  22. Labour turnover can be measured by the following methods except:
  23. Non-monetary incentives may include the following except:
  24. Overtime premium may be treated, depending on the circumstances, as:
  25. Preventive costs of labour turnover include the following except:
  26. Secondary packing expenses are:
  27. Stock verification sheets are maintained to record the result of ______________ verification.
  28. Sun Ltd. Makes a single product which it sells for 10 per unit. Fixed costs are 48,000 per month and the product has a contribution to sales ratio of 40%. In a period when actual sales were 1, 40,000. Sun Ltd.'s margin of safety in units was:
  29. The break-even point is the point where:
  30. The difference between total revenues and total variable costs is known as:
  31. The firms monthly cost of production is 1,46,000 at an output level of 8,000 units. If it achieves an output level of 12,000 units it will incur production cost of 1,94,000 cost of production for 15,000 units is
  32. The main purpose of cost accounting is to:
  33. The main types of costing for ascertaining costs do not include
  34. The methods of job evaluation include:
  35. The standard time required per unit of a product is 20 minutes. In a day of 8 working hours a worker gave an output of 30 units. If he gets a time rate of 20/hr., his total earnings under Halsey bonus scheme was:
  36. the term = contribution' refers to?
  37. Types of maintenance include the following except:
  38. What is the company's margin of safety in?
  39. When a business is faced with a limiting factor (one which limits the activity of an entity) and there is a choice to be made between options to follow, which of the following statements describes the optimal course of action?
  40. When a firm doubles its inputs and finds that its output has more than doubled, this is known as:
  41. When job is very big and spread over long periods of time the method of costing adopted is
  42. Which of the following bases would be most appropriate to apportion the cost of electric power to factory departments?
  43. Which of the following is a direct labour cost?
  44. Which of the following is calculated by a formula that uses net sales as denominator?
  45. Which of the following is not a possible method of accounting for administration overheads?
  46. Which of the following is not a production department?
  47. Which of the following is not an assumption underlying the accountant's break-even chart?
  48. Which of the following is/are not associated with ordering costs?
  49. Which of the following is/are reported in production cost report?
  50. Which of the following statement is TRUE about FOH applied rates?
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