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| Subject: MGT402 QUIZ NO 4 Thu Jul 22, 2010 8:59 pm | |
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Question # 1 of 15 ( Start time: 06:32:55 PM ) Total Marks: 1 Differential cost has the behavior of ? Select correct option: Fixed cost Step cost Variable/semi avriable cost All of the given options
Question # 2 of 15 ( Start time: 06:34:20 PM ) Total Marks: 1 All Indirect cost is charged/record in the head of Select correct option: Prime cost FOH cost Direct labor cost None of the given options Question # 3 of 15 ( Start time: 06:35:17 PM ) Total Marks: 1 Which of the following is / are element / s of production payroll? Select correct option: Direct labor force wages Administrative wages Selling wages All of the given options Question # 4 of 15 ( Start time: 06:36:34 PM ) Total Marks: 1 Which of the following is/are not associated with ordering costs? Select correct option: Interest Insurance Opportunity costs All of the given options
Question # 5 of 15 ( Start time: 06:37:55 PM ) Total Marks: 1 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
Question # 6 of 15 ( Start time: 06:39:17 PM ) Total Marks: 1 Which of the following costs are treated as period costs under direct costing? Select correct option: Only direct costs Fixed selling and administrative expenses Fixed manufacturing overhead Both fixed manufacturing overhead and fixed selling and administrative expenses
Question # 7 of 15 ( Start time: 06:40:36 PM ) Total Marks: 1 Which of the following would be considered to be an investment centre? Select correct option: Managers have control over marketing Management have a sales team Management have a sales team and are given a credit control function Managers can purchase capital assets and are given a credit control function
Question # 8 of 15 ( Start time: 06:41:13 PM ) Total Marks: 1 The difference over the period of time between actual and applied FOH will usually be minimal when the predetermined overhead rate is based on: Select correct option: Normal capacity Designed capacity Direct Labor hours Machine hours
Question # 9 of 15 ( Start time: 06:42:30 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
Question # 10 of 15 ( Start time: 06:42:58 PM ) Total Marks: 1 Cost of Goods Manufactured can be calculated as follow Select correct option: Total factory Cost Add Opening Work in process inventory Less Closing Work in process inventory Total factory Cost Less Opening Work in process inventory Add Closing Work in process inventory Total factory Cost Less Opening Work in process inventory Less Closing Work in process inventory Total factory Cost Add Opening Work in process inventory Add Closing Work in process inventory
Question # 11 of 15 ( Start time: 06:44:08 PM ) Total Marks: 1 When closing stock is over valuate, what would its effect be on profit? Select correct option: It will Increase the profit It will decrease the profit No effect on profit Cannot be determined
Question # 12 of 15 ( Start time: 06:45:19 PM ) Total Marks: 1 Which of the following items of expense are to be add in FOH cost Select correct option: Rent of factory + Head office rent + salaries to factory watchman Rent of factory + factory lighting bill + Directors salaries Rent of factory + factory lighting bill + Factory employees salaries Head office rent + Factory property tax + Factory small tools
Question # 13 of 15 ( Start time: 06:46:05 PM ) Total Marks: 1 Increase in material Inventory means: Select correct option: The ending inventory is greater than opening inventory The ending inventory is less than opening inventory Both ending and opening inventories are equal Can not be determined
Question # 14 of 15 ( Start time: 06:47:07 PM ) Total Marks: 1 Which of the following is an example of Statutory deductions: Select correct option: Deduction as Income Tax Deduction as social security Subscriptions to a trade union None of the given
Question # 15 of 15 ( Start time: 06:48:07 PM ) Total Marks: 1 Planning for future growth is called: Select correct option: Capital budgeting Working capital management Financial forecasting Budgeting
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