vu mgt402 Final Term - Quiz No.5
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: In a repeated distribution method:
Each service department in turn does not re-allocate its costs to all departments
Each service department in turn and re-allocates its costs to all departments
Each service department in turn and allocates its costs to all departments
Only one service department in turn and re-allocates its costs to all departments.
Question 2: Cost of finished goods inventory is calculated by:
Multiplying units of finished goods inventory with the cost per unit
Dividing units of finished goods inventory with the cost per unit
Dividing per unit cost with finished goods inventory
Deducting total cost from finished goods inventory
Question 3: Which of the following is a mechanical device to record the exact time of the workers?
Clock Card
Store Card
Token System
Attendance Register
Question 4: Direct material opening inventory add net purchases is called __________
Material consumed
Material available for use
Total material purchased
Material ending inventory
Question 5: EOQ is a point where:
Ordering cost is equal to carrying cost
Ordering cost is higher than carrying cost
Ordering cost is lesser than the carrying cost
Total cost is maximum
Question 6: The supervisor salary is treated as:
Direct labor cost
Indirect labor coat
Conversion cost
None of the given options
Question 7: Overtime that is necessary in order to fulfill customer orders is called:
Avoidable overtime
Unavoidable overtime
Premium Overtime
Flex time
Question 8: Which of the following is correct for maximum level?
Reorder level – (Minimum consumption x Lead time) + EOQ
(Maximum consumption x Lead time) – (Minimum consumption x Lead time) + EOQ
[(Maximum consumption - Minimum consumption) Lead time]+ EOQ
All of the given options
Question 9: If, Gross profit = Rs. 40,000 GP Margin = 20% of sales What will be the value of cost of goods sold?
Rs. 160,000
Rs. 120,000
Rs. 40,000
Rs. 90,000
Question 10: Manufacturing entities classified the inventory in which of three kinds?
Material inventory,WIP inventory,Finished goods inventory
Material inventory,purchased good inventory,WIP inventory
Material inventory,purchased good inventory,Finished goods inventory
WIP inventory,Finished goods inventory,purchased good inventory
