vu mgt402 Final Term - Quiz No.12
vu mgt402 Cost & Management Accounting Quiz
This quiz belongs to book/course code vu mgt402 Cost & Management Accounting of vu organization. We have 14 quizzes available related to the book/course Cost & Management Accounting. This quiz has a total of 10 multiple choice questions (MCQs) to prepare and belongs to topic Final Term. NVAEducation wants its users to help them learn in an easy way. For that purpose, you are free to prepare online MCQs and quizzes.
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Question 1: When FOH is under applied and charged to Net profit, the treatment would be:
Under applied Add net profit
Under applied Less net profit
Under applied Less operating expense
None of the given options
Question 2: If, COGS = Rs. 50,000 GP Margin = 25% of sales What will be the value of Sales?
Rs. 200,000
Rs. 66,667
Rs. 62,500
None of the given options
Question 3: Cost accounting department prepares __________ that helps the in preparing final accounts.
Cost sheets
Cost of goods sold statement
Cost of production Report
Material requisition form
Question 4: A Blanket Rate is:
A single rate which used throughout the organization departments
A double rates which used throughout the organization departments
A single rates which used in different departments of the organization
None of the given options
Question 5: If joint products are to be processed further beyond the point of separation, costs should be assigned to the products on the basis of:
Adjusted sales value
Ultimate sales value
A physical unit of measure
An engineering analysis
Question 6: Which of the following is/are not associated with ordering costs?
Interest
Insurance
Opportunity costs
All of the given options
Question 8: In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as:
Direct material cost
Indirect material cost
FOH cost
Prime cost
Question 9: What will be the impact of normal loss on the overall per unit cost?
Per unit cost will increase
Per unit cost will decrease
Per unit cost remain unchanged
Normal loss has no relation to unit cost
Question 10: Gross pay less deductions represents all except:
Net pay
Take home pay
Total pay
Other income
