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 MGT402 QUIZ

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PostSubject: MGT402 QUIZ   Fri Jun 25, 2010 8:39 pm

Quiz Start
Time: 07:13 PM Time Left
13 sec(s)



Question # 1
of 15 ( Start time:
07:13:13 PM ) Total Marks: 1



A company
produces two chemicals in
a joint process. Chemical A can be sold at split off while chemical B
currently
cost Rs. 2 per gallon for disposal. If chemical B is further processed,
it
would cost Rs. 5 per gallon. At what sales price would the company be in
different between disposing of chemical B at split off and further
processing
the chemical?



Select
correct option:



Rs.3


Rs.5


Rs.4


Rs.7





Quiz Start
Time: 07:13 PM Time Left
26 sec(s)



Question # 2
of 15 ( Start time:
07:14:34 PM ) Total Marks: 1



In the
process costing when labor is
charged to production department- I. What would be the journal entry
Passed?



Select
correct option:



Payroll a/c
To W.I.P (Dept-I)



Payroll a/c
To W.I.P (Dept-II)



W.I.P
(Dept-I) To Payroll a/c



W.I.P
(Dept-II) To Payroll a/c






Quiz Start
Time: 07:13 PM Time Left
37 sec(s)



Question # 3
of 15 ( Start time:
07:15:41 PM ) Total Marks: 1



The flux
method of labor turnover
denotes:



Select
correct option:



Workers
appointed against the
vacancy caused due to discharge or quitting of the organization



Workers
appointed in replacement of
existing employees



Workers
employed under the expansion
schemes of the company



The total
change in the composition
of labor force






Quiz Start
Time: 07:13 PM Time Left
37 sec(s)



Question # 3
of 15 ( Start time:
07:15:41 PM ) Total Marks: 1



The flux
method of labor turnover
denotes:



Select
correct option:



Workers
appointed against the
vacancy caused due to discharge or quitting of the organization



Workers
appointed in replacement of
existing employees



Workers
employed under the expansion
schemes of the company



The total
change in the composition
of labor force






Quiz Start
Time: 07:13 PM Time Left
43 sec(s)



Question # 4
of 15 ( Start time:
07:16:36 PM ) Total Marks: 1



Which of
the following statement is
TRUE about FOH applied rates?



Select
correct option:






They are
used to control overhead
costs



They are
based on actual data for
each period



They are
predetermined in advance
for each period



None of the
given






Quiz Start
Time: 07:13 PM Time Left
32 sec(s)



Question # 5
of 15 ( Start time:
07:17:26 PM ) Total Marks: 1



Which of
the following is a characteristic
of process cost accounting system?



Select
correct option:



Material,
Labor and Overheads are
accumulated by orders



Companies
use this system if they
process custom orders



Opening and
Closing stock of work in
process are related in terms of completed units



Only
Closing stock of work in
process is restated in terms of completed units






Quiz Start
Time: 07:13 PM Time Left
59 sec(s)



Question # 6
of 15 ( Start time:
07:18:27 PM ) Total Marks: 1



The point
at which joint product
costs become separately identifiable is known as the:



Select
correct option:



Split-off
point



Relative
sales value point



Joint
processing cost



None of the
given options






Quiz Start
Time: 07:13 PM Time Left
17 sec(s)



Question # 7
of 15 ( Start time:
07:19:01 PM ) Total Marks: 1



EOQ is the
order quantity that
_________ over our planning horizon



Select
correct option:



Minimizes
total ordering costs



Minimizes
total carrying costs



Minimizes
total inventory costs



Minimize
the required safety stock






Quiz Start
Time: 07:13 PM Time Left
39 sec(s)



Question # 8
of 15 ( Start time:
07:20:17 PM ) Total Marks: 1



The cost of
electricity bill of the
factory is treated as:



Select
correct option:



Fixed cost


Variable
cost



Step cost


Semi
variable cost






Quiz Start
Time: 07:13 PM Time Left
61 sec(s)



Question # 9
of 15 ( Start time:
07:21:10 PM ) Total Marks: 1



The
Economic order quantity can be
calculated by:



Select
correct option:



Formula
Method



Table
Method



Graph
Method



All of the
given






Quiz Start
Time: 07:13 PM Time Left
45 sec(s)



Question #
10 of 15 ( Start time:
07:21:42 PM ) Total Marks: 1



__________
is the time worked over
and above the employee's basic working week.



Select
correct option:



Flex time


Overtime


Shift
allowance



Commission





Quiz Start
Time: 07:13 PM Time Left
9 sec(s)



Question #
11 of 15 ( Start time:
07:22:30 PM )



A company
needed to produce 340
liters of chemical “X”. There is a normal loss of 10 %( 40 units) of the
material put in to the process during the month. The company produced
340
liters of good production. Although there was an abnormal loss of 5 % of
the
material put into the process which was 20 units. Find out the number of
liters
put in to process in the beginning?



Select
correct option:



400 litres


340 litres


300 litres


200 litres





Quiz Start
Time: 07:13 PM Time Left
22 sec(s)



Question #
12 of 15 ( Start time:
07:23:54 PM ) Total Marks: 1



Which of
the following best describe
a by product?



Select
correct option:



A product
that usually produces a
large amount of revenue as compared to the main product revenue



A product
that is produced from raw
material that would otherwise be scraped



A product
that has always higher
selling price per unit than the main product



A product
created with the main
product where sales value does not cover its cost of production






Quiz Start
Time: 07:13 PM Time Left
51 sec(s)



Question #
13 of 15 ( Start time:
07:25:05 PM ) Total Marks: 1



If, Gross
profit = Rs. 40,000 GP
Margin = 25% of sales What will be the value of cost of goods sold?



Select
correct option:



Rs. 160,000


Rs. 120,000


Rs. 40,000


Can not be
determined






Quiz Start
Time: 07:13 PM Time Left
65 sec(s)



Question #
14 of 15 ( Start time:
07:25:47 PM ) Total Marks: 1



Working
hours of labor can be
calculated with the help of all except:



Select
correct option:



Smart card


Time sheet


Clock card


Store card





Quiz Start
Time: 07:13 PM Time Left
35 sec(s)



Question #
15 of 15 ( Start time:
07:26:14 PM ) Total Marks: 1



Direct
material opening inventory
add net purchases is called



Select
correct option:



Material
consumed



Material
available for use



Total
material purchsed



Material
ending inventory


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