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 MGT402 Quiz Cost & Management Accounting [6]

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PostSubject: MGT402 Quiz Cost & Management Accounting [6]   Mon Oct 17, 2011 6:10 am

Cost & Management Accounting




Question No: 1
The Economic Order Quantity is the amount of inventory to be ordered at one time for purpose to minimize:
► Conversion cost
► FOH cost
► Inventory cost
► Prime cost

Question No: 2
The annual demand for a stock item is 2,500 units. The cost of placing an order is Rs. 80 and the cost holding an item in stock is for one year is Rs. 15.
Required: What is the EOQ?
► 163 units
► 1250 units
► 5,000 units
► 160 units

Question No: 3
TO whom purchase order form is issued to place an order?
► Work station incharge
► Store incharge
► Supplier
► Manager

Question No: 4
What type of information CANNOT get from bin card?
► It provides the information for Reorder level
► It provides the information for Economic order quantity
► It provides the information for Maximum daily consumption
► It provides the information for Cost of material consumed

Question No: 5
Which of the following groups of workers would be classified as indirect labor?
► Machinists in an organization manufacturing clothes
► Bricklayers in a house building company
► Maintenance workers in a shoe factory
► None of the given options
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Question No: 6
Taylor's Differential Piece Rate Plan based on _____________piece rates is fixed.
► Two
► Three
► Four
► Five

Question No: 7
Meerick Differential Piece Rate Plan based on _____________piece rates is fixed.
► Two
► Three
► Four
► Five

Question No: 8
Depreciation of building expense is an example of factory overhead which is apportioned on the basis of:
► Capital value
► Departmental payroll
► Area in square feet or cubic feet
► Number of workers

Question No: 9
Maintenance and repair of plant and machinery can be apportioned on the basis of:
► Capital value
► Departmental payroll
► Area in square feet or cubic feet
► Number of workers

Question No: 10
In which of the situation spending variance will give favorable result?
► Actual factory overhead is less than absorbed factory overhead
► Actual factory overhead is greater than absorbed factory overhead
► Budgeted factory overhead for actual volume is greater than actual factory overhead
► Absorbed factory overhead less than budgeted factory overhead for actual volume

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MGT402 Quiz Cost & Management Accounting [6]
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