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RE: MGT402 Online Quiz#3....All in One (24 to 25 june)
Question # 1 of 15 ( Start time: 03:53:53 AM ) Total Marks: 1
A chemical process has normal wastage of 5% of input. In a period, 3,500 Kg of
material were input and there was no abnormal loss. What quantity of good
production was achieved?
Select correct option:
2,175 Kg
2,250 Kg
3,325 Kg
4,425 Kg
Interest
Insurance
Opportunity costs
All of the given options
Rs. 45,000
Rs. 15,000
Rs. 30,000
There will be no ending Inventory
BCVO
AVCO
c.FIFO
LIFO
Commission
Shift allowance
Over time payment
Bonus
Unfavorable variance
Favorable variance
Normal variance
Budgeted variance
Workers appointed against the vacancy caused due to discharge or quitting of the
organization
Workers employed under the expansion schemes of the company
The total change in the composition of labor force
Workers retrenched
Rs.22.5
Rs.23.5
Rs.24.5
Rs.26.5
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Question # 15 of 15 ( Start time: 04:03:20 AM ) Total Marks: 1
Alpha company purchased a machine worth Rs 200,000 in the last year.Now that
machine can be use in a new project which company has received this year. Now the
cost of that machine is to be called:
Select correct option:
Project cost
Sunk cost
Opportunity cost
Relevant cost
12,125 units
12,500 units
12,875 units
14,250 units
Rs. 45,000
Rs. 15,000
Rs. 30,000
There will be no ending Inventory
Fixed cost
Step cost
Variable/semi avriable cost
All of the given options
Workers appointed against the vacancy caused due to discharge or quitting of the
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organization
Workers employed under the expansion schemes of the company
The total change in the composition of labor force
Workers retrenched
A by-product is a product produced at the same time as other products which has a
relatively low volume compared with the other products.
Since a by-product is a saleable item it should be separately costed in the process
account,and should absorb some of the process costs.
Cost incurred prior to the point of separation are known as common or joint
costs. (not Sure)
A by-product is a product produced at the same time as other products which has a
relatively high volume compared with the other products.
Two
Three
Four
Five
Beverages
Food
Hospitality
Petroleum
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Decision making
Revenue generation
Cost incurrence
Investment
BCVO
AVCO
c.FIFO
LIFO
A by-product is a product arising from a process where the wastage rate is higher
than a defined level
A by-product is a product arising from a process where the sales value is insignificant
by comparison with that of the main product or products
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A by-product is a product arising from a process where the wastage rate is
unpredictable
A by-product is a product arising from a process where the sales value is significant
by comparison with that of the main product or products
Normal capacity
Designed capacity
Direct Labor hours
Machine hours
Rs. 45,000
Rs. 15,000
Rs. 30,000
There will be no ending Inventory
2,175 kg
2,250 kg
2,425 kg
2,500 kg
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Question # 8 of 15 ( Start time: 06:02:42 AM ) Total Marks: 1
If opening inventory of material is Rs.20,000 and closing inventory is Rs. 40,000.the
Average inventory amount will be:
Select correct option:
Rs. 40,000
Rs. 30,000
Rs. 20,000
Rs. 10,000
Net pay
Take home pay
Total pay
Other income (doubted)
Inventory to Cash
Cash to Purchases
Purchses to Inventory
None of the given options
Commission
Shift allowance
Over time payment
Bonus
2,175 Kg
2,250 Kg
3,325 Kg
4,425 Kg
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Unfavorable variance
Favorable variance
Normal variance
Budgeted variance
Rs. 9,600
Rs. 80,000
Rs. 16,000
Rs. 6,400
Joint products are two or more products arising from a process, one of which has a
significant sales value
Joint products are the output of a joint venture of two companies, sharing overhead
costs equally
Joint products are the output of a joint venture of two companies, where one
company agrees to bear all the overhead costs
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Joint products are two or more products arising from a process, each of
which has a significant sales value
Rs. 45,000
Rs. 15,000
Rs. 30,000
There will be no ending Inventory
Remain unchanged for fixed cost and increase for variable cost
Increase for fixed cost and remain unchanged for variable cost
Increase for fixed cost and decrease for variable cost
Decrease for both fixed and variable costs
20,000
5,000
10,000
25,000
Cost drivers are those items which cause actual overhead to exceed applied
overhead
Job order costing systems are appropriate to both manufacturing and service
businesses
Traditionally, direct labor has been a very popular overhead application base
In a service business, indirect costs of providing a service are treated as overhead
and applied in a manner similar to that for factory overhead
Bin Card
Store Ledger Card
Stock Ledger
None of the given options
Planning
Controlling
Sharing
Costing
Stock ledger
Bin card
Material card
Purchase requsition card
Joint products are the output of a joint venture of two companies, where one
company agrees to bear all the overhead costs
Joint products are two or more products arising from a process, each of
which has a significant sales value
Question # 6 of 15
In the operations of a plastic toy manufacturer, the cost per equivalent unit is
calculated as Rs. 1.60. The equivalent units of output are 50,000. The closing stock
is 10,000 units, 40% complete. What will be the value of closing stock?
Question # 8 of 15 During the month 12,500 units were completed, 1,500 units
remained in work in process at 25 percent completed. How many equivalent units
are produced?
Question # 11 of 15 Working hours of labor can be calculated with the help of all
except:
Question # 14 of 15 A method by which the good used are priced out at average cost
is known as:
Select correct option:
BCVO
AVCO
c.FIFO
LIFO
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Question # 15 of 15
opening WIP 3500 units that was 70%completed. completed during the month
was19,000 units.Closing WIP 6500 units that was 30%completed. How many units
were started during January?
FIFO
LIFO
Weighted Average
Cannot be determined
2,175 kg
2,250 kg
2,425 kg
2,500 kg
Sales returns
Sales discounts
Sales returns & allowances
Sales returns & allowances and sales discounts
A fixed cost
A variable cost
A mixed cost
A step cost
Fixed cost
Step cost
Variable/semi avriable cost
All of the given options
Overstocking
Under stocking
Replenishment of stock
Acquisition of stock
Prime cost
FOH cost
Direct labor cost
None of the given options
Beverages
Food
Hospitality
Petroleum
Three
Two
Four
Five
100 days
73 days
50 days
10 days
Factory burden
Factory expenses
Manufacturing overhead
Conversion costs
Sunk Cost
Standard Cost
Relevant Cost
Irrelevant Cost
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Weighted Average
FIFO
Hybrid process
Cannot be determined with so little information
Entire Production
Cost of Good sold
Net Profit
All of given options
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
Rs. 200,000
Rs. 100,000
Rs. 580,000
Rs. 740,000
Net pay
Take home pay
Total pay
Other income
Three
Two
Four
Five
Weighted Average
FIFO
Hybrid process
Cannot be determined with so little information
Purchase of direct material add trade discount less purchase return add carriage
inward less other material handling cost
Purchase of direct material less trade discount l add purchase return add carriage
inward less other material handling cost
Purchase of direct material less trade discount less purchase return less carriage
inward add other material handling cost
Purchase of direct material less trade discount less purchase return add
carriage inward add other material handling cost
Entire Production
Cost of Good sold
Net Profit
All of given options
2,175 Kg
2,250 Kg
3,325 Kg
4,425 Kg
Remain unchanged for fixed cost and increase for variable cost
Increase for fixed cost and remain unchanged for variable cost
Increase for fixed cost and decrease for variable cost
Decrease for both fixed and variable costs
Entire Production
Cost of Good sold
Net Profit
All of given options
18 x 7 x 0.50 = Rs. 63
18 x 0.50 = Rs. 9
18 x 7 = Rs. 126
7 x 0.5 = Rs. 3.5
Factory Rent
Property Tax
Salaries of Factory Clerk
All of the given
Clock Card
Store Card
Token System
Attendance Register
worker is not penalized even if his performance does not exceed 80 per cent
of the High Task.
worker is not penalized even if his performance does not exceed 70 per cent of the
High Task.
worker is not penalized even if his performance does not exceed 50 per cent of the
High Task.
worker is not penalized even if his performance does not exceed 30 per cent of the
High Task.
Sunk Cost
Standard Cost
Relevant Cost
Irrelevant Cost
Rs. 200,000
Rs. 66,667
Rs. 62,500
None of the given options
Entire Production
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Cost of Good sold
Net Profit
All of given options
Net pay
Take home pay
Total pay
Other income
Rs. 160,000
Rs. 120,000
Rs. 40,000
Can not be determined
Difference between capacity level over which overhead absorption rate is calculated
& capacity level attained.
Difference between FOH cost budgeted or estimated over which overhead absorption
rate and FOH actually incurred.
Diffrence between the actual level which company achived and budget level which
company determined.
All of the given
Production Center
Service Center
General Cost Center
Head Office