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Quiz Start Time: 12:34 PM Time Left 73
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Question # 1 of 15 ( Start time: 12:34:38 PM ) Total Marks: 1
The flux method of labor turnover denotes:
Select correct option:

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





Quiz Start Time: 12:34 PM Time Left 89
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Question # 2 of 15 ( Start time: 12:35:30 PM ) Total Marks: 1
While calculating the EOQ, number of orders is calculated by:
Select correct option:

Multiplying the required units with cost per order
Dividing required unit by ordered quantity
Multiplying the required units with ordered quantity
Multiplying the ordered quantity with cost per order






Quiz Start Time: 12:34 PM Time Left 89
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Question # 3 of 15 ( Start time: 12:36:01 PM ) Total Marks: 1
Under/Over applied FOH cost can be adjusted in which of the following:
Select correct option:

Entire Production
Cost of Good sold
Net Profit
All of given options







Quiz Start Time: 12:34 PM Time Left 87
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Question # 4 of 15 ( Start time: 12:36:29 PM ) Total Marks: 1
Which of the following statement is TRUE about FOH applied rates?
Select correct option:

They are used to control overhead costs
They are based on actual data for each period
They are predetermined in advance for each period
None of the given





Quiz Start Time: 12:34 PM Time Left 89
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Question # 5 of 15 ( Start time: 12:36:49 PM ) Total Marks: 1
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






Quiz Start Time: 12:34 PM Time Left 89
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Question # 6 of 15 ( Start time: 12:37:11 PM ) Total Marks: 1
Increase in material Inventory means:
Select correct option:

The ending inventory is greater than opening inventory
The ending inventory is less than opening inventory
Both ending and opening inventories are equal
Can not be determined





Quiz Start Time: 12:34 PM Time Left 89
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Question # 7 of 15 ( Start time: 12:37:45 PM ) Total Marks: 1
The Term Maximum Level Represents:
Select correct option:

The maximum stock level indicates the maximum quantity of an item of material which can be held in stock at any time.
The maximum stock level indicates the maximum quantity of an item of material which cannot be held in stock at any time.
The Average stock level indicates the maximum quantity of an item of material which can be held in stock at any time.
The Available stock level indicates the maximum quantity of an item of material which can be held in stock at any time.



Quiz Start Time: 12:34 PM Time Left 73
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Question # 8 of 15 ( Start time: 12:38:16 PM ) 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






Quiz Start Time: 12:34 PM Time Left 53
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Question # 9 of 15 ( Start time: 12:38:38 PM ) Total Marks: 1
Net Income before Interest and tax is also called:
Select correct option:

Operating Income/Profit
Gross Profit
Marginal Income
Other Income





Quiz Start Time: 12:34 PM Time Left 89
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Question # 10 of 15 ( Start time: 12:39:21 PM ) Total Marks: 1
A method by which the first goods to be received are said to be the first to by sold
Select correct option:

LIFO
AVCO
FIFO
WASH






Quiz Start Time: 12:34 PM Time Left 89
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Question # 11 of 15 ( Start time: 12:39:35 PM ) Total Marks: 1
Opportunity cost is the best example of:
Select correct option:

Sunk Cost
Standard Cost
Relevant Cost
Irrelevant Cost







Quiz Start Time: 12:34 PM Time Left 89
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Question # 12 of 15 ( Start time: 12:39:47 PM ) Total Marks: 1
From employer point of view, the total cost of wages and salaries is a combination of which of the following?
Select correct option:

Gross wages and salaries+employer's provident fund contributions
Gross wages and salaries+employee's provident fund contributions
Gross wages and salaries + Income Tax deductions
Gross wages and salaries + pension scheme payments



MC070401791 : Rameez Younas



Quiz Start Time: 12:34 PM Time Left 88
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Question # 13 of 15 ( Start time: 12:40:09 PM ) Total Marks: 1
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




Quiz Start Time: 12:34 PM Time Left 89
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Question # 14 of 15 ( Start time: 12:40:28 PM ) Total Marks: 1
Under Periodic Inventory system Purchase of inventory is treared as:
Select correct option:

Assets
Expense
Income
Liability







Quiz Start Time: 12:34 PM Time Left 89
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Question # 15 of 15 ( Start time: 12:40:48 PM ) Total Marks: 1
The Process of cost apportionment is carried out so that:
Select correct option:

Cost may be controlled
Cost unit gather overheads as they pass through cost centers
Whole items of cost can be charged to cost centers
Common costs are shared among cost centers