MGT402 Quiz # 3

 MC080401549

Question # 1 of 15 ( Start time: 12:21:33 PM ) Total Marks: 1

On a cost-volume-profit chart (break-even graph), where are the total fixed costs shown?

Select correct option:

At the point where the sales line intersects the cost line

At the point where the sales line crosses the total cost line

At the point where the total cost line intersects the cost line

At the point where the total cost line intersects the volume line

LIFO method the value of issues is close to:

Select correct option:

Second hand price

Current market price

Historical cost

All of given options

Question # 3 of 15 ( Start time: 12:23:23 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

A method by which the good used are priced out at average cost is known as:

Select correct option:

BCVO

AVCO

c.FIFO

LIFO

A store ledger card is similar to the ________ .

Select correct option:

Stock ledger

Bin card

Material card

Purchase requsition card

The current sales price is Rs. 25 per unit and the current variable cost is Rs. 17 per unit. Fixed costs are Rs. 40,000. If the sales price is increased by Rs. 2 and all other costs remain unchanged, what will happen to the break-even point in units?

Select correct option:

It will increase by 1,000 units

It will decrease by 1,000 units

It will decrease by 2,000 units

It will not change

All of the following are essential requirements of a good wage system EXCEPT:

Select correct option:

Reduced overhead costs

Reduced per unit variable cost

Increased production

Increased operating costs

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

EOQ is a point where:

Select correct option:

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

The main difference between the profit center and investment center is:

Select correct option:

Decision making

Revenue generation

Cost incurrence

Investment

When 10,000 ending units of work-in-process are 30% completed as to conversion, it means:

Select correct option:

30% of the units are completed

70% of the units are completed

Each unit has been completed to 70% of its final stage

Each of the unit is 30% completed

An organistation sold units 4000 and have closing finished goods 3500 units and opening finished goods units were 1000.The quantity of unit produced would be:

Select correct option:

7500 units

6500 units

4500 units

8500 units

The Economic order quantity can be calculated by:

Select correct option:

Formula Method

Table Method

Graph Method

All of the given

Jones, Industries uses process costing system. In October, the finishing department had 30,000 units in beginning work-in-process, 45,000 units in ending inventory and had 95,000 units transferred in from the previous department. Material is added at the end of the process and conversion costs are added uniformly throughout the process. Beginning work-in-process was 20% complete with respect to conversion costs; ending inventory was 40% complete with respect to conversion costs. If Jones uses FIFO, the equivalent units of production for transferred-in costs, direct material, and conversion costs are:

Select correct option:

Material 125,000 units Conversion cost 98,000 units

Material 125,000 units Conversion cost 45,000 units

Material 125,000 units Conversion cost 80,000 units

None of the given options

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

 
NOTE: - We always try our best to upload 100% correct solution BUT it is requested that you kindly review it before submission, please BEST OF LUCK,


Thanks to those students those send me Assignments and quizzes. If you have any Assignment and quiz kindly send at jamilbookcenter@yahoo.com