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Mgt502 solution

Thursday, June 24, 2010 Posted In Edit This
Q.1:What will you suggest for these three persons? What leadership style they should adopt for the smooth transition. Please explain in your own words with valid reasons and points.


Answer:
Lesson 23
LEADERSHIP APPLICATION Page 110 and 111.

Leadership styles:
There are four leadership styles.
1.     Directive
2.     

Supportive

3.     

Participative

4.     Achievement oriented

You can make 3 seperate paragraphs for the 3 names (FAHAD, IMRAN & IBRAHIM) mentioned in this assignment. This is your decission that which styles should be adopted by whom? U have to write atleast 90 words for one person as its 15 marks assignment.
Q.2:Explain the advantages and disadvantages associated with promoting internally to a leadership position.

It would be better to the write advantages and disadvantages in numbering or bulliting form. atleast write 6-7.


ADVANTAGES:

for examples:

The management can save their energy time and expense to hire someone from outside.


DISADVANTAGES:

for examples:

In some situations it can be de motivating for the employees who are not promoted.


MKT501 GDB Solution

Thursday, June 24, 2010 Posted In Edit This
Target Market Of Cornetto 

1. for students. ice cream cone
2. for mango lover in mango flavor
3. for strawbay lover in strawbary flavor 
Target market of CHOC BAR 
1. TARGET MARKET: Upper Niche Class. 
2. for students. ...
3. For Choclete lover 
Target market of 1 liter family pack 
1. target market are mostly age and income based people
2. for families

MGT211 Assignment # 2 solution

Thursday, June 24, 2010 Posted In Edit This

Job Description:

Strong professional ethics. 
Since we are dealing with International clients, it is very important for you to have exceptional English skills – both verbal and written

Ability to communicate and articulate your thoughts well

Extraordinary writing skills – you should be able to or have experience writing marketing copy / blurbs. General story writing skills do not count as relevant experience Ability to handle sensitive or negative client situations with tact Ability to manage the production and distribution of press releases through online channels
Exceptional multi-tasking skills. Ability to structure and manage multiple initiatives simultaneously and drive them to completion.

A deep understanding of the PK culture and work ethics
Web savvy – a good grasp on online tools and resources

Team oriented. Collaborative.
Demonstrated Leadership Skills – we will require evidence of past leadership roles at university or career-level Past Customer Care or Client Management experience will be considered a bonus

Candidates with the following will be preferred: 
Thorough experience with International Public Relations, Media handling and Online marketing, or experience working in multinational organizations
Experience working with International Clients – specifically in PK, USA, Europe and Canada
Have studied, lived or worked in Punjab
Understanding of the culture, memes and trends in the video game industry will be preferred

Job Specification:

The successful candidate for the Deputy marketing manager position will possess these qualifications
Experience - Deputy Manager marketing:
10 years of progressively more responsible positions inmarketing, preferably in a similar industry in two different firms.
Experience supervising and managing a professional staff of seven.
Education - Deputy Marketing Manager:
Master Degree in Marketing or a related field required.
PHD in Business or Marketing preferred.
Required Skills, Knowledge and Characteristics - Deputy Marketing Manager:
Strong effective communicator.
Highly developed, demonstrated teamwork skills.

Ability to coordinate the efforts of a large team of diverse creative employees.
Demonstrated ability to increase productivity and continuously improve methods, approaches, and departmental contribution. Commitment to continuous learning.

Expert in Internet and social media strategy with a demonstrated track record.
Demonstrated effectiveness in holding conversations with customers, customer evangelism, and customer-focused product development and outreach.
Demonstrated ability to see the big picture and provide useful advice and input across the company.
Ability to lead in an environment of constant change.
Experience working in a flexible, employee empowering work environment. Structured or large company experience will not work here.
Familiarity and skill with the tools of the trade in marketingincluding PR, written communication, website development, market research, product packaging, Microsoft software suite of products, visal communication software products, and creative services.
Experience managing external PR and communication consulting firms and contractors.
Experience in the global marketplace is a plus

ECO403 Assignment Solution

Thursday, June 24, 2010 Posted In Edit This

Question#1



What will be the effect of following events on the IS and LM curve?
A. A decrease in money demand caused by the introduction of a new
electronic money card
B. A decrease in the money supply
C. An increase in government taxes

Solution:

A. No effect on the IS curve and LM curve shifts to the downward

B:negative effect on the IS curve and LM curve shifts on the Upward

C : Is curve moves to the leftward and LM curve have no effect



Question#02
(A)In the Keynesian cross, assume that the consumption function is given
by:
C = 100 + 0.5 (Y-T)
If planned investment = 100
Government purchases and taxes are both 50
Then calculate the equilibrium level of income.

Solution:(This is just 4 an idea plz complete all the steps)

you can use the formula for this:

Y= C + I + G

Y = 100 + 0.5(Y – 50) + 100 + 50

after calculation we get

Y = 450

and Y is the Equibilium level of income


(B) Suppose that money demand function is:
(M/P)d = 1000 – 100r
Where r is the interest rate in percentage, money supply (M) is 1000 and the
price level (P) is 2. What is the equilibrium interest rate?

Solution:

(M/P)d = 1000 – 100r

(1000 / 2) = 1000 - 100r

after calculation we get

r = 5

MGT411 GDB solution

Thursday, June 24, 2010 Posted In Edit This

“It is always claimed by the commercial banks in the economy that their “Net-Worth” fall sharply when Central bank adopt the contraction monetary policy in the periods of high inflation in the economy. What do you think is this right or wrong? Give comments in its favor or against.” 


 In my point of view this statement is right.
Contractionary monetary policy is monetary policy that seeks to reduce the size of the money supply.
Net worth is the total assets minus total outside liabilities of bank.

when the central bank is "tightening", it slows the process of private bank issue by selling securities on the open market and pulling money (that could be loaned) out of the private banking sector. By increasing the supply of bonds, this lowers their prices and raises interest rates at the same time that the money supply is reduced.
so when Central bank adopt the contraction monetary policy in the periods of high inflation in the economy, the prices are lowers and interest rates are increase Due to it net worth fall or decrease.

CS507 Current Quiz

Thursday, June 24, 2010 Posted In Edit This


In drawing a proper flowchart, all necessary steps that are a part of process should be listed out in ________________ order.
Select correct option:

Logical
Physical
Random
Top to Bottom

Which of the following is a problem solving technique that re-assembles a system’s components back into a complete system?
Select correct option:

System analysis
System design
System check
System configuration

The study of business problem domain is used to recommend improvements and specify the business requirements for the solution.
Select correct option:

True
False

Which of the following may be of low fidelity and dismissed as toys?
Select correct option:

Interfaces
Inference engines
Early prototypes
Development engines

Which of the following refers to the structuring of hardware and software to achieve the effective and efficient processing of information?
Select correct option:

SDLC
System monitoring
Operational planning
System development

Which of the following allows manufacturers to rapidly and inexpensively test the parts of the design which are most likely to have problems?
Select correct option:

Physical Model
Prototype
Trial version
Carbon copy

Which of the following are knowledge workers who facilitate the development of information systems and computer applications by bridging the communications gap that exists between non-technical system users, and System designers and developers?
Select correct option:

System Analysts
Software Engineers
System Designers
Chief Executives

Which of the following provides a structured means of addressing the impact of technologies on an organization?
Select correct option:

Business planning
IT planning
Requirements planning
Configuration planning

Employees might be unwilling to accept the high level of responsibility if organization is dominated by _____________and the culture is ____________.
Select correct option:

Workers, autocratic
top management, autocratic
top management, democratic
Middle level management, democratic

In which of the following environments, duplication of clerical work is generally observed.
Select correct option:

Computerized
Automated
Manual
Semi-computerized

Another Quiz

Question # 1 of 10 ( Start time: 09:20:48 AM ) Total Marks: 1
The purpose of ___________ is to obtain a commitment to change and evaluate whether cost effective solutions are available to address the problem that has been identified.
Select correct option:

planning
usage scenarios
feasibility study
testing


Question # 3 of 10 ( Start time: 09:22:24 AM ) Total Marks: 1
In which of the following environments, duplication of clerical work is generally observed.
Select correct option:

Computerized
Automated
Manual
Semi-computerized




Question # 4 of 10 ( Start time: 09:23:19 AM ) Total Marks: 1
Prototypes are used in:
Select correct option:

Iterative models
Incremental models
Waterfall models
Extreme programming

Question # 5 of 10 ( Start time: 09:23:41 AM ) Total Marks: 1
In which of the following models, the development approach is based on producing deliverables frequently/ repetitively.
Select correct option:

Incremental
Waterfall
Iterative
XP



Question # 6 of 10 ( Start time: 09:24:06 AM ) Total Marks: 1
Which of the following enunciate business goals and the actions that need to be initiated to achieve those goals including related benefits, resources and timeframes?
Select correct option:

Organizing
Monitoring
Plans
Implementation

Question # 7 of 10 ( Start time: 09:25:07 AM ) Total Marks: 1
In which of the following models the phases are in a cascading manner linking the output of one to the input of next phase.
Select correct option:

Rapid prototyping
Spiral
Waterfall
Extreme programming


Question # 8 of 10 ( Start time: 09:26:21 AM ) Total Marks: 1
Which of the following is the process of quickly putting together a working model in order to test various aspects of the design for gathering early user feedback?
Select correct option:

Interviews
Iteration
Prototyping
Questionnaires


Question # 9 of 10 ( Start time: 09:27:07 AM ) Total Marks: 1
Which of the following model is preferred for its simplicity and more disciplined approach?
Select correct option:

Incremental
Waterfall
Spiral
Iterative


Question # 10 of 10 ( Start time: 09:27:39 AM ) Total Marks: 1
Which of the following may lead management and customers to believe that the final product is almost ready for delivery?
Select correct option:

Mockups
Efficient models
Malfunctioning prototypes
Working prototypes

ECO401 GDB Solution

Thursday, June 24, 2010 Posted In Edit This

“A car manufacturer may regard his business as highly competitive because he is keenly aware of his rivalry with the other car manufacturers in the market when making pricing and investment decisions. Each car manufacturer undertakes dynamic advertising campaigns seeking to persuade prospective buyers of the superior quality and better style of his cars and reacts very quickly to claims of superiority by his rivals.”

 
Which type of market structure is this? Just mention the name of that market structure.

Answer:-

It is a Oligopoly Structure

MKT501 GDB solution

Thursday, June 24, 2010 Posted In Edit This


This paragraph will help out you
Demographic variables of WALL’S target market are mostly age and income based. WALL’S have created many sorts of ice creams to cater all age groups. The most popular ice creams amongst kids are Paddle pop, in teenagers Cornetto and Magnum, commercial packs are popular in families as whole. WALL’S cater both females and males in the society. If we consider the income segmentation, WALL’S is targeting upper, middle, and lower middle income levels.

Another Solution:-

Please don't copy paste (make sure before posting)

Cornetto is the brand name of walls and it has its own worth in the market, its target market is Students and teen age GROUP. Choc Bar is also core hot selling product of walls, its target market is female, children and moderate people. Liter pack is mostly used at festive occasions etc
 
Another Solution:- 

FIRST MANAGE IT THEN POST IT


Target Market Of Cornetto
1. for students. ice cream cone
2. for mango lover in mango flavor
3. for strawbay lover in strawbary flavor

Target market of CHOC BAR
1. TARGET MARKET: Upper Niche Class.
2. for students. ...
3. For Choclete lover

target market of 1 liter family pack
1. target market are mostly age and income based people
2. for families


Please do make changes in these assignment otherwise every one who copy this assignment as it is will awarded zero marks 

Fin622 Current Quiz

Thursday, June 24, 2010 Posted In Edit This


Question # 1 of 15 ( Start time: 11:20:12 AM ) Total Marks: 1
Which of the following statement best describe the term Market Correction?
Select correct option:

Market Correction refers to the situation where equilibrium of supply & demand of shares occurs in the market
Market correction occurs when shares̢۪ intrinsic values becomes equal to face values
Market Correction occurs when there is a boom in the economy
Market Correction occurs when inflation rate is above the market interest rate


Question # 2 of 15 ( Start time: 11:21:25 AM ) Total Marks: 1
Which of the following illustrates the use of a hedging (maturity matching) approach to financing?
Select correct option:

Permanent working capital financed with long-term liabilities.
Short-term assets financed with equity.
All assets financed with 50 percent equity, 50 percent long-term debt mixture.
Short-term assets financed with long-term liabilities.


Question # 3 of 15 ( Start time: 11:22:31 AM ) Total Marks: 1
If two projects offer the same, positive NPV, then which of the following would be a reasonable conclusion?
Select correct option:

The projects would have the same IRR.
The projects would have the same payback period.
The projects are mutually exclusive.
The projects would add the same amount to the value of the firm.


Question # 4 of 15 ( Start time: 11:23:57 AM ) Total Marks: 1
If a creditor wanted to know if a potential customer paid its bills on time, the creditor could look at the potential customer's:
Select correct option:

Current ratio.
Acid ratio.
Average age of accounts payable.
Average age of accounts receivable


Question # 5 of 15 ( Start time: 11:25:18 AM ) Total Marks: 1
Which of the following is closely related to a sales budget?
Select correct option:

Miscellaneous income
Future profits
Cash outflow
Cash inflow


Question # 6 of 15 ( Start time: 11:26:43 AM ) Total Marks: 1
What is the future value of Rs.1 invested for 10 years if the 12 percent annual rate of interest is compounded quarterly?
Select correct option:

Rs.2.30
Rs.3.26
Rs.3.25
Rs.2.93


Question # 7 of 15 ( Start time: 11:28:05 AM ) Total Marks: 1
Which of the following methods would be most suitable for calculating the return on stocks of a non-listed company?
Select correct option:

Dividend Growth model
Capital Asset Pricing Model
Security Market Line
Characteristics line


Question # 8 of 15 ( Start time: 11:29:20 AM ) Total Marks: 1
Which of the following is tax deductible?
Select correct option:

Dividend on preferred shares
Dividend on common stocks
Coupon payments on bonds
Capital gain on common stocks


Question # 9 of 15 ( Start time: 11:30:30 AM ) Total Marks: 1
Suppose a stock is selling today for Rs.35 per share. At the end of the year, it pays a dividend of Rs.2.00 per share and sells for Rs.39.00. What is the dividend yield on the stock?
Select correct option:

2%
3%
4%
5%


Question # 10 of 15 ( Start time: 11:31:31 AM ) Total Marks: 1
Which of the following would lower a firm's operating break-even point?
Select correct option:

An increase in the cost of goods sold
An increase in selling price
An increase in wages paid to employees
An increase in total sales


Question # 11 of 15 ( Start time: 11:32:42 AM ) Total Marks: 1
If two projects are independent, that means that ___________.
Select correct option:

Selection of one precludes selection of the other.
You should analyze the projects independently.
Both the given options may apply
None of the given options


Question # 12 of 15 ( Start time: 11:33:54 AM ) Total Marks: 1
Which of the following is a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume?
Select correct option:

Technical analysis
Fundamental analysis
Common size analysis
Ration analysis


Question # 13 of 15 ( Start time: 11:34:59 AM ) Total Marks: 1
The variance of an investment's returns is a measure of the:
Select correct option:

Volatility of the rates of return.
Probability of a negative return.
Historic return over long periods.
Average value of the investment.


Question # 14 of 15 ( Start time: 11:36:05 AM ) Total Marks: 1
Which of the following statement is CORRECT regarding residual dividend policy?
Select correct option:

Shareholders are paid dividend from capital
Dividend are paid after meeting all the financial needs of the firm
The management sets a fixed payout ratio
Shareholders are paid fixed dividend every year


Question # 15 of 15 ( Start time: 11:37:10 AM ) Total Marks: 1
Juan is starting a software writing company. He is the owner and has only 3 employees. He wants a simple inexpensive form of ownership that leaves him in control and that he can quickly dissolve if he decides to change to another business. His best choice of form of ownership would be:
Select correct option:

S-corporation.
Partnership.
Corporation
Sole proprietorship

MGT603 Current Quiz

Thursday, June 24, 2010 Posted In Edit This



All of the specified approaches could be used to determine R&D budget allocation EXCEPT:
       Financing as many projects as possible
       Using percentage-of-sales method
       Budgeting irrelative to competitors
       Deciding how many successful new products are needed

In order to avoid the emergence of substitute products, AF & Z Corporation has obtained an access and control over the scarce natural resources necessary to produce their products. Thus, which of the following strategies is being practiced by AF & Z Corporation?
       
SO Strategy
       WO Strategy
       
SW Strategy
       ST
 Strategy
 :)
Which statement is CORRECT about strategic-management process?
       It occurs once a year
       
It is a continuous process
       It applies mostly to large business
       It applies mostly to small businesses
Internal analysis involves gathering and analyzing the information about all areas of a firm EXPECT:
       Research nad development
       Management information system
       Marketing
       Competitors

 Establishing and implementing ways of making things work is known as:
       Planning
       
Organizing       Leading
       Controlling
To whom a planning horizon of two to five years applies?
       
Top management       Middle management
       Lower management
       All levels
 Which of the following is the benefit of strategic management?
       Fewer complexes
       More complex
       Less static
       
More profitable

 The analysis of industry’s major competitors’ strengths may give an insight of which one of these?
       Key threats for the firm       Key opportunities for the firm
       Both opportunities and strengths for the firm
       None of the given options

Identify the term that is known as a “mean of providing guidance to actions and procedures, including how resources are to be allocated and how tasks assigned to the organization might be accomplished”.
Select correct option:
       
Aspirations (Confusion 1 & 4)
       Objectives
       Policies
       
Goals

Which of these is the allocation and reallocation of capital and resources to projects, products, assets and divisions of an organization?       Investment decision
       
Financing decisions       Restructuring decisions
       Strategic decision
A chance for advancement, progress or profit prevailing in external environment of a company is known as:
       Strength
       Weakness
       
Opportunity
       Threat

Which statement is CORRECT about strategic-management process?
Select correct option:
       It occurs once a year
       
It is a continuous process
       It applies mostly to large business
       It applies mostly to small businesses

A firm should practice Joint Venture strategy in which of the following cases?       When the SPACE matrix vector lies in defensive quadrant
       When the SPACE matrix vector lies in aggressive quadrant
       When the SPACE matrix vector lies in conservative quadrant
       
When the SPACE matrix vector lies in competitive quadrant

The social factors that affect a firm involve all of the following EXCEPT:       Attitudes of people in the external environment
       Lifestyles of people
       
Per capita income
       Values and beliefs of persons outside the firm

Which of the following is not a strategy-implementation activity?
      Long term goals and objectives
       Developing strategy supportive culture
       Redirecting marketing efforts
       
Developing and utilizing information system

Adding new but unrelated products or services for appealing present customers is known as:
       Forward integration
       Backward integration
       
Conglomerate diversification
       Horizontal diversification

Financial ratios are helpful in analyzing the relationship among which of the following?
Select correct option:
       
All assets and liabilities
       Profits and costs
       All functional areas of business
       Sales and profitability

Which of the following is an example of Intensive strategies?
       
Conglomerate strategy
       Forward integration
       Market penetration
       Retrenchment

Which one of the following dimensions is NOT a recommended component of a mission statement?
Select correct option:
       Self-concept       Markets
       Strategies
       Customers

 “A Good mission statement identifies the utility of a firm's products to its customers”; which of the following represents this statement?
Select correct option:
       Organization’s philosophy
       
Customer orientation       Social policy
       Declaration of attitude

Strategic management integrates all of the following areas EXCEPT:
       Management
       Marketing
       Research and development
       Human resource management
Which of the following are the five forces that affect the level of competition in an industry?








       Threat of entrants; power of buyers; power of suppliers; threat of substitutes; competitive rivalry
       Threat of buyers; power of entry; power of substitutes; threat of suppliers; threat of recession
       Threat of recession; power of buyers; power of suppliers; threat of management failure; competitive rivalry
         Threat of entry; power of buyers; power of suppliers; threat of substitutes; government action

MGT402 Online Quiz # 3

Thursday, June 24, 2010 Posted In , Edit This
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 

Question # 2 of 15 ( Start time: 03:54:54 AM ) Total Marks: 1 
Which of the following is/are not associated with ordering costs? 
Select correct option: 

Interest 
Insurance 
Opportunity costs 
All of the given options 

Question # 3 of 15 ( Start time: 03:55:16 AM ) Total Marks: 1 
Direct materials cost is Rs. 80,000. Direct labor cost is Rs. 60,000. Factory overhead is Rs. 90,000. Beginning goods in process were Rs. 15,000. The cost of goods manufactured is Rs. 245,000. What is the cost assigned to the ending goods in process? 
Select correct option: 

Rs. 45,000 
Rs. 15,000 
Rs. 30,000 
There will be no ending Inventory 

Question # 4 of 15 ( Start time: 03:56:37 AM ) Total Marks: 1 
A method by which the good used are priced out at average cost is known as: 
Select correct option: 

BCVO 
AVCO 
c.FIFO 
LIFO 

Question # 5 of 15 ( Start time: 03:56:55 AM ) Total Marks: 1 
A standard rate is paid to the employee when he completed his job: 
Select correct option: 

In time less than the standard 
In standard time 
In time more than standard 
Both in standard time and more than the standard time 

Question # 6 of 15 ( Start time: 03:57:13 AM ) Total Marks: 1 
Which of the following is correct? 
Select correct option: 

Units sold=Opening finished goods units + Units produced – Closing finished goods units 
Units Sold = Units produced + Closing finished goods units - Opening finished goods units 
Units sold = Sales + Average units of finished goods inventory 
Units sold = Sales - Average units of finished goods inventory 

Question # 7 of 15 ( Start time: 03:57:45 AM ) Total Marks: 1 
Which of the following is sales force payroll incentive? 
Select correct option: 

Commission 
Shift allowance 
Over time payment 
Bonus 

Question # 8 of 15 ( Start time: 03:59:11 AM ) Total Marks: 1 
Where the applied FOH cost is greater than the actual FOH cost it is: 
Select correct option: 

Unfavorable variance 
Favorable variance 
Normal variance 
Budgeted variance 

Question # 9 of 15 ( Start time: 03:59:31 AM ) Total Marks: 1 
Which of the following statement is correct regarding reasons of variance? 
Select correct option: 

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 

Question # 10 of 15 ( Start time: 03:59:58 AM ) Total Marks: 1 
If joint products are to be processed further beyond the point of separation, costs should be assigned to the products on the basis of: 
Select correct option: 

Adjusted sales value 
Ultimate sales value (not sure)
A physical unit of measure 
An engineering analysis 

Question # 11 of 15 ( Start time: 04:01:06 AM ) Total Marks: 1 
Gross pay includes which of the following items? 
Select correct option: 

Basic pay + bonus pay 
Overtime payment + shift allowances 
Rent and conveyance allowances 
All of the given options 

Question # 12 of 15 ( Start time: 04:02:15 AM ) 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 

Question # 13 of 15 ( Start time: 04:02:42 AM ) Total Marks: 1 
All of the following are cases of labor turnover EXCEPT: 
Select correct option: 

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 

Question # 14 of 15 ( Start time: 04:03:00 AM ) Total Marks: 1 
Byer produced 20,000 units and their total factory cost was Rs. 450,000,other cost like property tax on factory bulding was Rs. 10,000 included in that cost till year ended the cost of per unit would be: 
Select correct option: 

Rs.22.5 
Rs.23.5 
Rs.24.5 
Rs.26.5 

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



Question # 1 of 15 ( Start time: 05:06:54 AM ) Total Marks: 1 
EOQ is the order quantity that _________ over our planning horizon 
Select correct option: 

Minimizes total ordering costs 
Minimizes total carrying costs 
Minimizes total inventory costs 
Minimize the required safety stock 

Question # 2 of 15 ( Start time: 05:07:22 AM ) Total Marks: 1 
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? 
Select correct option: 

12,125 units 
12,500 units 
12,875 units 
14,250 units 

Question # 3 of 15 ( Start time: 05:07:53 AM ) Total Marks: 1 
Direct materials cost is Rs. 80,000. Direct labor cost is Rs. 60,000. Factory overhead is Rs. 90,000. Beginning goods in process were Rs. 15,000. The cost of goods manufactured is Rs. 245,000. What is the cost assigned to the ending goods in process? 
Select correct option: 

Rs. 45,000 
Rs. 15,000 
Rs. 30,000 
There will be no ending Inventory 

Question # 4 of 15 ( Start time: 05:08:06 AM ) Total Marks: 1 
Manufacturing entities classified the inventory in which of three kinds? 
Select correct option: 

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 

Question # 5 of 15 ( Start time: 05:08:29 AM ) Total Marks: 1 
Which of the following is indirect cost? 
Select correct option: 

The depreciation of machinery 
The overtime premium incurred at the specific request of a customer 
The hire of tools for a specific job 
All of the given options 

Question # 6 of 15 ( Start time: 05:09:17 AM ) Total Marks: 1 
Which of the following costs is part of the prime cost for manufacturing company? 
Select correct option: 

Cost of transporting raw materials from the suppliers premises 
Wages of factory workers engaged in machine maintenance 
Depreciation of truck used for deliveries to customers 
Cost of indirect production materials 

Question # 7 of 15 ( Start time: 05:09:39 AM ) Total Marks: 1 
Differential cost has the behavior of ? 
Select correct option: 

Fixed cost 
Step cost 
Variable/semi avriable cost 
All of the given options 

Question # 8 of 15 ( Start time: 05:09:57 AM ) Total Marks: 1 
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as: 
Select correct option: 

Direct material cost 
Indirect material cost 
FOH cost 
Prime cost 

Question # 9 of 15 ( Start time: 05:10:16 AM ) Total Marks: 1 
All of the following are cases of labor turnover EXCEPT: 
Select correct option: 

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 

Question # 10 of 15 ( Start time: 05:10:25 AM ) Total Marks: 1 
Which of the following statements is/are correct? 
Select correct option: 

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. 

Question # 11 of 15 ( Start time: 05:11:52 AM ) Total Marks: 1 
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 

Question # 12 of 15 ( Start time: 05:12:28 AM ) Total Marks: 1 
Merrick Differential system uses----------- rates. 
Select correct option: 

Two 
Three 
Four 
Five 

Question # 13 of 15 ( Start time: 05:12:50 AM ) Total Marks: 1 
Examples of industries that would use process costing include all of the following EXCEPT: 
Select correct option: 

Beverages 
Food 
Hospitality 
Petroleum 


Question # 14 of 15 ( Start time: 05:14:14 AM ) Total Marks: 1 
The main difference between the profit center and investment center is: 
Select correct option: 

Decision making 
Revenue generation 
Cost incurrence 
Investment 

Question # 15 of 15 ( Start time: 05:14:47 AM ) 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




Question # 1 of 15 ( Start time: 05:57:29 AM ) Total Marks: 1 
Of the following manufacturing operations, which is the best suited to the utilization of a job order system? 
Select correct option: 

Soft drink bottling operation 
Crude oil refining 
Plastic molding operation 
Cement Production 

Question # 2 of 15 ( Start time: 05:58:15 AM ) Total Marks: 1 
A method by which the good used are priced out at average cost is known as: 
Select correct option: 

BCVO 
AVCO 
c.FIFO 
LIFO 

Question # 3 of 15 ( Start time: 05:58:37 AM ) Total Marks: 1 
Which of the following is the best definition of a by-product? 
Select correct option: 

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 
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 

Question # 4 of 15 ( Start time: 06:00:02 AM ) 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 

Question # 5 of 15 ( Start time: 06:01:28 AM ) Total Marks: 1 
Weighted average cost per unit is calculated by which of the following formula? 
Select correct option: 

Cost of goods issued/number of units issued 
Total cost/total units 
Cost of goods manufactured/closing units 
Cost of goods sold/total units 

Question # 6 of 15 ( Start time: 06:02:02 AM ) Total Marks: 1 
Direct materials cost is Rs. 80,000. Direct labor cost is Rs. 60,000. Factory overhead is Rs. 90,000. Beginning goods in process were Rs. 15,000. The cost of goods manufactured is Rs. 245,000. What is the cost assigned to the ending goods in process? 
Select correct option: 

Rs. 45,000 
Rs. 15,000 
Rs. 30,000 
There will be no ending Inventory 

Question # 7 of 15 ( Start time: 06:02:09 AM ) Total Marks: 1 
A chemical process has normal wastage of 10% of input. In a period, 2,500 Kg of material were input and there was abnormal loss of 75 Kg. What quantity of good production was achieved? 
Select correct option: 

2,175 kg 
2,250 kg 
2,425 kg 
2,500 kg 

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 

Question # 9 of 15 ( Start time: 06:03:04 AM ) Total Marks: 1 
Gross pay less deductions represents all except: 
Select correct option: 

Net pay 
Take home pay 
Total pay 
Other income (doubted)

Question # 10 of 15 ( Start time: 06:04:21 AM ) Total Marks: 1 
The journal entry of purchse of stock under periodic inventory system would be? 
Select correct option: 

Inventory to Cash 
Cash to Purchases 
Purchses to Inventory 
None of the given options 

Question # 11 of 15 ( Start time: 06:05:15 AM ) Total Marks: 1 
Which of the following is sales force payroll incentive? 
Select correct option: 

Commission 
Shift allowance 
Over time payment 
Bonus 

Question # 12 of 15 ( Start time: 06:05:24 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 

Question # 13 of 15 ( Start time: 06:05:33 AM ) Total Marks: 1 
Where the applied FOH cost is greater than the actual FOH cost it is: 
Select correct option: 

Unfavorable variance 
Favorable variance 
Normal variance 
Budgeted variance 

Question # 14 of 15 ( Start time: 06:05:50 AM ) Total Marks: 1 
Which of the following is / are element / s of production payroll? 
Select correct option: 

Direct labor force wages 
Administrative wages 
Selling wages 
All of the given options 

Question # 15 of 15 ( Start time: 06:06:12 AM ) Total Marks: 1 
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? 
Select correct option: 

Rs. 9,600 
Rs. 80,000 
Rs. 16,000 
Rs. 6,400


Question # 1 of 15 ( Start time: 11:07:46 PM ) Total Marks: 1
Which of the following statement measures the financial position of the entity on particular time?
Select correct option:
Income Statement
Balance Sheet
Cash Flow Statement
Statement of Retained Earning

Question # 2 of 15 ( Start time: 11:08:05 PM ) Total Marks: 1
The Inventory Turn over ration is 5 times and numbers of days in a year is 365.Inventory holding period in days would be
Select correct option:
100 days
73 days
50 days
10 days

Question # 3 of 15 ( Start time: 11:08:51 PM ) Total Marks: 1
Direct material opening inventory add net purchases is called
Select correct option:
Material consumed
Material available for use
Total material purchsed
Material ending inventory

Question # 4 of 15 ( Start time: 11:09:26 PM ) Total Marks: 1
A store ledger card is similar to the ______ .
Select correct option:
Stock ledger
Bin card
Material card
Purchase requsition card

Question # 5 of 15 ( Start time: 11:09:54 PM ) Total Marks: 1
In a repeated distribution method:
Select correct option:
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 # 6 of 15 ( Start time: 11:10:25 PM ) Total Marks: 1
The appropriate journal entry to transfer the cost of completed units from the Work in Process account would involve a credit to Work in Process and a debit to which of the following accounts?
Select correct option:
Income Summary
Raw Materials Inventory
Finished Goods
Manufacturing Summary

Question # 7 of 15 ( Start time: 11:11:00 PM ) Total Marks: 1
When two products are manufactured during a common process, the factor that determine whether the products are joint product or one main product and one is by product is the:
Select correct option:
Potential marketability for each product
Amount of work expended in the production of each product
Relative total sales value of each product
Management policy

Question # 8 of 15 ( Start time: 11:11:45 PM ) Total Marks: 1
Annual requirement is 7800 units; consumption per week is 150 units. Unit price Rs 5, order cost Rs 10 per order. Carrying cost Rs 1 per unit and lead time is 3 week, The Economic order quantity would be:
Select correct option:
395 units
300 units
250 units
150 units

Question # 9 of 15 ( Start time: 11:12:47 PM ) Total Marks: 1
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

Question # 10 of 15 ( Start time: 11:13:45 PM ) Total Marks: 1
Which of the following is the best definition of joint products?
Select correct option:
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
Joint products are two or more products arising from a process, each of which has a significant sales value
Question # 11 of 15 ( Start time: 11:14:15 PM ) Total Marks: 1
Over applied FOH will always result when a predetermined FOH rate is applied and:
Select correct option:
Production is greater than defined capacity
Actual overhead costs are less than budgeted overhead
Budgeted capacity is less than normal capacity
Actual overhead incurred is less than applied Overhead

Question # 12 of 15 ( Start time: 11:14:54 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

Question # 13 of 15 ( Start time: 11:15:41 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

Question # 14 of 15 ( Start time: 11:16:28 PM ) Total Marks: 1
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as:
Select correct option:
Direct material cost
Indirect material cost
FOH cost
Prime cost

Question # 15 of 15 ( Start time: 11:16:55 PM ) Total Marks: 1
Which of the following loss is expected in manufacturing process and represents a necessary cost of processing the marketable units?
Select correct option:
Operating loss
Abnormal loss
Normal loss
Extraordinary loss

Dont know the Ans..
Question # 1 of 15 Which of the following is the best definition of joint products? 

Select correct option: 
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 

Joint products are two or more products arising from a process, each of which has a significant sales value 


Question # 2 of 15 In comparing common cost and joint cost: 
Select correct option: 

The terms can be correctly used interchangeably 
Both have the same objective of assigning production cost to cost center 
They differ since common cost products or services have been obtained separately 
Common cost is sometime used as Joint cost 

Question # 3 of 15 Which of the following statement measures the financial position of the entity on particular time? 

Select correct option: 
Income Statement 
Balance Sheet 
Cash Flow Statement 
Statement of Retained Earning 

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? 

Select correct option: 
Rs. 9,600 
Rs. 80,000 
Rs. 16,000 
Rs. 6,400 

Question # 7 of 15 A standard rate is paid to the employee when he completed his job: 

Select correct option: 
In time less than the standard 
In standard time 
In time more than standard 
Both in standard time and more than the standard time 


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? 

Select correct option: 
12,125 units 
12,500 units 
12,875 units 
14,250 units 
Question # 9 of 15 Which of the following cannot be used as a base for the determination of overhead absorption rate? 

Select correct option: 
Number of units produced 
Prime cost 
Conversion cost 
Discount Allowed 

Question # 11 of 15 Working hours of labor can be calculated with the help of all except: 

Select correct option: 
Smart card 
Time sheet 
Clock card 
Store card 

Question # 13 of 15 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 



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 

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? 

Select correct option: 
19,000 units 
22,000 units 
16,000 units 
25,500 units


Question # 1 of 15 ( Start time: 10:52:11 PM ) Total Marks: 1 
The FIFO inventory costing method (when using a perpetual inventory system) assumes that the cost of the earliest units purchased is allocated in which of the following ways? 
Select correct option: 

First to be allocated to the ending inventory 
Last to be allocated to the cost of goods sold 
Last to be allocated to the ending inventory 
First to be allocated to the cost of good sold 

Question # 2 of 15 ( Start time: 10:53:09 PM ) Total Marks: 1 
Which of the following is the best definition of joint products? 
Select correct option: 

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 
Joint products are two or more products arising from a process, each of which has a significant sales value 

Question # 3 of 15 ( Start time: 10:53:45 PM ) Total Marks: 1 
Which of the following best describes the manufacturing costs? 
Select correct option: 

Direct materials, direct labor and factory overhead 
Direct materials and direct labor 
Direct materials, direct labor, factory overhead, and administrative overhead 
Direct labor and factory overhead 

Question # 4 of 15 ( Start time: 10:54:35 PM ) Total Marks: 1 
When two products are manufactured during a common process, the factor that determine whether the products are joint product or one main product and one is by product is the: 
Select correct option: 

Potential marketability for each product 
Amount of work expended in the production of each product 
Relative total sales value of each product 
Management policy 

Question # 5 of 15 ( Start time: 10:55:39 PM ) Total Marks: 1 
Direct materials cost is Rs. 80,000. Direct labor cost is Rs. 60,000. Factory overhead is Rs. 90,000. Beginning goods in process were Rs. 15,000. The cost of goods manufactured is Rs. 245,000. What is the cost assigned to the ending goods in process? 
Select correct option: 

Rs. 45,000 
Rs. 15,000 
Rs. 30,000 
There will be no ending Inventory 

Question # 6 of 15 ( Start time: 10:56:24 PM ) Total Marks: 1 
If a predetermined FOH rate is not applied and the volume of production is reduced from the planned capacity level, the cost per unit expected to: 
Select correct option: 

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 

Question # 7 of 15 ( Start time: 10:57:28 PM ) Total Marks: 1 
PVC company has ordering quantity 10,000 units.They have storage capacity 20,000 units,The average inventory would be: 
Select correct option: 

20,000 
5,000 
10,000 
25,000 

Question # 8 of 15 ( Start time: 10:58:53 PM ) Total Marks: 1 
Which of the following statements concerning job order costing systems is incorrect? 
Select correct option: 

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 

Question # 9 of 15 ( Start time: 11:00:19 PM ) Total Marks: 1 
Store incharge after receiving the material as per the goods received note, places the material at its location and makes an entry in_________ . 
Select correct option: 

Bin Card 
Store Ledger Card 
Stock Ledger 
None of the given options 

Question # 10 of 15 ( Start time: 11:00:50 PM ) Total Marks: 1 
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as: 
Select correct option: 

Direct material cost 
Indirect material cost 
FOH cost 
Prime cost 

Question # 11 of 15 ( Start time: 11:01:05 PM ) Total Marks: 1 
When FOH is under applied and charged to Net profit , the treatment would be: 
Select correct option: 

Under applied Add net profit 
Under applied Less net profit 
Under applied Less operating expense 
None of the given options 

Question # 12 of 15 ( Start time: 11:02:17 PM ) Total Marks: 1 
Cost accounting concepts include all of the following EXCEPT: 
Select correct option: 

Planning 
Controlling 
Sharing 
Costing 

Question # 13 of 15 ( Start time: 11:02:46 PM ) Total Marks: 1 
A store ledger card is similar to the ________ . 
Select correct option: 

Stock ledger 
Bin card 
Material card 
Purchase requsition card 

Question # 14 of 15 ( Start time: 11:03:41 PM ) Total Marks: 1 
In which of the following would there be a difference between financial and managerial accounting? 
Select correct option: 

Users of the information 
Purpose of the information 
Flexibility of practices 
All of the given options 

Question # 15 of 15 ( Start time: 11:04:25 PM ) Total Marks: 1 
What will be the impact of normal loss on the overall per unit cost? 
Select correct option: 

Per unit cost will increase 
Per unit cost will decrease 
Per unit cost remain unchanged 
Normal loss has no relation to unit cost


HIF123 here is solved version
Question # 1 of 15 Which of the following is the best definition of joint products? 

Select correct option: 
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 

Joint products are two or more products arising from a process, each of which has a significant sales value 


Question # 2 of 15 In comparing common cost and joint cost: 
Select correct option: 

The terms can be correctly used interchangeably 
Both have the same objective of assigning production cost to cost center 
They differ since common cost products or services have been obtained separately Common cost is sometime used as Joint cost 

Question # 3 of 15 Which of the following statement measures the financial position of the entity on particular time? 

Select correct option: 
Income Statement 
Balance Sheet 
Cash Flow Statement 
Statement of Retained Earning 

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? 

Select correct option: 
Rs. 9,600 
Rs. 80,000 
Rs. 16,000 
Rs. 6,400 

Question # 7 of 15 A standard rate is paid to the employee when he completed his job: 

Select correct option: 
In time less than the standard 
In standard time 
In time more than standard 
Both in standard time and more than the standard time 


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? 

Select correct option: 
12,125 units 
12,500 units 
12,875 units 
14,250 units 

Question # 9 of 15 Which of the following cannot be used as a base for the determination of overhead absorption rate? 

Select correct option: 
Number of units produced 
Prime cost 
Conversion cost 
Discount Allowed 

Question # 11 of 15 Working hours of labor can be calculated with the help of all except: 

Select correct option: 
Smart card 
Time sheet 
Clock card 
Store card 

Question # 13 of 15 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 



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 

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? 

Select correct option: 
19,000 units 
22,000 units 
16,000 units 
25,500 units

Question # 1 of 15 ( Start time: 04:10:15 AM ) Total Marks: 1 
Which of the following is the best characteristic of a by product: 
Select correct option: 

Is produced from material that would otherwise be of no value 
Has a lower selling price than the main product 
Is created along with the main product, but its sales value does not cover its production cost 
Usually produces a smaller amount of revenue than the main product 

Question # 2 of 15 ( Start time: 04:11:36 AM ) Total Marks: 1 
When prices are rising over time, which of the following inventory costing methods will result in the lowest gross margin/profits? 
Select correct option: 

FIFO 
LIFO 
Weighted Average 
Cannot be determined 

Question # 3 of 15 ( Start time: 04:11:59 AM ) Total Marks: 1 
Cost of goods sold can be calculated as follow 
Select correct option: 

Cost of goods manufactured Add Opening finished goods inventory Less Closing finished goods inventory 
Cost of goods manufactured Less Opening finished goods inventory Less Closing finished goods inventory 
Cost of goods manufactured Less Opening finished goods inventory Add Closing finished goods inventory 
Cost of goods manufactured Add Opening finished goods inventory Add Closing finished goods inventory 

Question # 4 of 15 ( Start time: 04:12:16 AM ) Total Marks: 1 
A chemical process has normal wastage of 10% of input. In a period, 2,500 Kg of material were input and there was abnormal loss of 75 Kg. What quantity of good production was achieved? 
Select correct option: 

2,175 kg 
2,250 kg 
2,425 kg 
2,500 kg 

Question # 5 of 15 ( Start time: 04:12:35 AM ) Total Marks: 1 
Which of the following is correct for maximum level? 
Select correct option: 

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 # 6 of 15 ( Start time: 04:12:56 AM ) Total Marks: 1 
Which of the following is NOT true about job order cost sheets? 
Select correct option: 

Job cost sheets contain direct material costs 
Job cost sheets contain actual amounts of factory overhead 
Job cost sheet does not contain conversion cost 
Job cost sheets contain direct labor costs 

Question # 7 of 15 ( Start time: 04:13:19 AM ) 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 

Question # 8 of 15 ( Start time: 04:13:37 AM ) Total Marks: 1 
Which of the following cannot be used as a base for the determination of overhead absorption rate? 
Select correct option: 

Number of units produced 
Prime cost 
Conversion cost 
Discount Allowed 

Question # 9 of 15 ( Start time: 04:13:56 AM ) Total Marks: 1 
Net sales = Sales less: 
Select correct option: 

Sales returns 
Sales discounts 
Sales returns & allowances 
Sales returns & allowances and sales discounts 

Question # 10 of 15 ( Start time: 04:14:16 AM ) 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 

Question # 11 of 15 ( Start time: 04:14:33 AM ) Total Marks: 1 
Which of the following is/are reported in production cost report? 
Select correct option: 

The costs charged to the department 
How the costs were assigned to the output? 
The equivalent units of production by the department 
All of the given options 

Question # 12 of 15 ( Start time: 04:15:04 AM ) Total Marks: 1 
Costs which are constant for a relevant range of activity and rise to new constant level once that range exceeded is called: 
Select correct option: 

A fixed cost 
A variable cost 
A mixed cost 
A step cost 

Question # 13 of 15 ( Start time: 04:15:14 AM ) Total Marks: 1 
Differential cost has the behavior of ? 
Select correct option: 

Fixed cost 
Step cost 
Variable/semi avriable cost 
All of the given options 

Question # 14 of 15 ( Start time: 04:15:31 AM ) 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 

Question # 15 of 15 ( Start time: 04:15:53 AM ) Total Marks: 1 
“Taking steps for the fresh purchase of those stocks which have been exhausted and for which requisitions are to be honored in future” is an easy explanation of: 
Select correct option: 

Overstocking 
Under stocking 
Replenishment of stock 
Acquisition of stock


Question # 1 of 15 ( Start time: 04:29:30 AM ) Total Marks: 1 
The FIFO inventory costing method (when using a perpetual inventory system) assumes that the cost of the earliest units purchased is allocated in which of the following ways? 
Select correct option: 

First to be allocated to the ending inventory 
Last to be allocated to the cost of goods sold 
Last to be allocated to the ending inventory 
First to be allocated to the cost of good sold 

Question # 2 of 15 ( Start time: 04:29:50 AM ) Total Marks: 1 
All Indirect cost is charged/record in the head of 
Select correct option: 

Prime cost 
FOH cost 
Direct labor cost 
None of the given options 

Question # 3 of 15 ( Start time: 04:30:11 AM ) Total Marks: 1 
A company has calculated that volume variance for a given month was unfavorable. This could have been caused by which of the following factors? 
Select correct option: 

The number of rejected units was higher than normal 
Machine breakdowns were higher than normal 
Delays were experienced in the issuing of material to production 
All of the given options 

Question # 4 of 15 ( Start time: 04:30:19 AM ) Total Marks: 1 
Production volume of 1,200 units cost incurred Rs. 10,000 and production volume of 1,400 units cost incurred Rs.20, 000. The variable cost per unit would be? 
Select correct option: 

Rs. 50.00 per unit 
Rs. 8.33 per unit 
Rs. 14.20 per unit 
Rs. 100 per unit 

Question # 5 of 15 ( Start time: 04:30:30 AM ) Total Marks: 1 
Examples of industries that would use process costing include all of the following EXCEPT: 
Select correct option: 

Beverages 
Food 
Hospitality 
Petroleum 

Question # 6 of 15 ( Start time: 04:30:37 AM ) 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 

Question # 7 of 15 ( Start time: 04:31:03 AM ) Total Marks: 1 
In the process costing when labor is charged to production department- I. What would be the journal entry Passed? 
Select correct option: 

Payroll a/c To W.I.P (Dept-I) 
Payroll a/c To W.I.P (Dept-II) 
W.I.P (Dept-I) To Payroll a/c 
W.I.P (Dept-II) To Payroll a/c 

Question # 8 of 15 ( Start time: 04:32:15 AM ) Total Marks: 1 
Which of the following is/are reported in production cost report? 
Select correct option: 

The costs charged to the department 
How the costs were assigned to the output? 
The equivalent units of production by the department 
All of the given options 

Question # 9 of 15 ( Start time: 04:32:23 AM ) Total Marks: 1 
Taylor's Differential Piece Rate Plan uses-----------piece rates. 
Select correct option: 

Three 
Two 
Four 
Five 

Question # 10 of 15 ( Start time: 04:32:31 AM ) Total Marks: 1 
The Inventory Turn over ration is 5 times and numbers of days in a year is 365.Inventory holding period in days would be 
Select correct option: 

100 days 
73 days 
50 days 
10 days 

Question # 11 of 15 ( Start time: 04:32:38 AM ) Total Marks: 1 
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 

Question # 12 of 15 ( Start time: 04:32:45 AM ) Total Marks: 1 
All of the following are terms used to denote Factory Overheads EXCEPT: 
Select correct option: 

Factory burden 
Factory expenses 
Manufacturing overhead 
Conversion costs 

Question # 13 of 15 ( Start time: 04:34:00 AM ) Total Marks: 1 
_______ are future costs that effect the current management decision. 
Select correct option: 

Sunk Cost 
Standard Cost 
Relevant Cost 
Irrelevant Cost 

Question # 14 of 15 ( Start time: 04:34:20 AM ) Total Marks: 1 
If computational and record-keeping costs are same under both FIFO and weighted average, which of the following method will generally be preferred? 
Select correct option: 

Weighted Average 
FIFO 
Hybrid process 
Cannot be determined with so little information 

Question # 15 of 15 ( Start time: 04:35:44 AM ) 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


Question # 1 of 15 ( Start time: 04:48:26 AM ) Total Marks: 1 
The supervisor salary is treated as: 
Select correct option: 

Direct labor cost 
Indirect labor cost 
Conversion cost 
None of the given options 

Question # 2 of 15 ( Start time: 04:48:35 AM ) 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 

Question # 3 of 15 ( Start time: 04:48:55 AM ) Total Marks: 1 
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as: 
Select correct option: 

Direct material cost 
Indirect material cost 
FOH cost 
Prime cost 

Question # 4 of 15 ( Start time: 04:49:02 AM ) Total Marks: 1 
If, Sales = Rs. 600,000 Markup = 20% of cost What would be the value of Gross profit? 
Select correct option: 

Rs. 200,000 
Rs. 100,000 
Rs. 580,000 
Rs. 740,000 

Question # 5 of 15 ( Start time: 04:49:09 AM ) Total Marks: 1 
Gross pay less deductions represents all except: 
Select correct option: 

Net pay 
Take home pay 
Total pay 
Other income 

Question # 6 of 15 ( Start time: 04:49:42 AM ) Total Marks: 1 
Taylor's Differential Piece Rate Plan uses-----------piece rates. 
Select correct option: 

Three 
Two 
Four 
Five 

Question # 7 of 15 ( Start time: 04:49:49 AM ) Total Marks: 1 
If computational and record-keeping costs are same under both FIFO and weighted average, which of the following method will generally be preferred? 
Select correct option: 

Weighted Average 
FIFO 
Hybrid process 
Cannot be determined with so little information 

Question # 8 of 15 ( Start time: 04:50:09 AM ) Total Marks: 1 
Which of the following is NOT true about job order cost sheets? 
Select correct option: 

Job cost sheets contain direct material costs 
Job cost sheets contain actual amounts of factory overhead 
Job cost sheet does not contain conversion cost 
Job cost sheets contain direct labor costs 

Question # 9 of 15 ( Start time: 04:50:18 AM ) Total Marks: 1 
Amount of net purchase can be calculated as follow 
Select correct option: 

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 

Question # 10 of 15 ( Start time: 04:51:42 AM ) 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 

Question # 11 of 15 ( Start time: 04:51:52 AM ) Total Marks: 1 
Which of the following is considered as basic systems of remunerating labor? 
Select correct option: 

Time rate system 
Piece rate system 
Halsey Premium plan 
Both time rate and piece rate system 

Question # 12 of 15 ( Start time: 04:52:08 AM ) Total Marks: 1 
Reduction of labor turnover, accidents, spoilage, waste and absenteeism are the results of which of the following wage plan? 
Select correct option: 

Piece rate plan 
Time rate plan 
Differential plan 
***** bonus system 

Question # 13 of 15 ( Start time: 04:52:50 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 

Question # 14 of 15 ( Start time: 04:52:59 AM ) Total Marks: 1 
Which of the following is correct? 
Select correct option: 

Units sold=Opening finished goods units + Units produced – Closing finished goods units 
Units Sold = Units produced + Closing finished goods units - Opening finished goods units 
Units sold = Sales + Average units of finished goods inventory 
Units sold = Sales - Average units of finished goods inventory 

Question # 15 of 15 ( Start time: 04:53:06 AM ) Total Marks: 1 
A high inventory turnover may indicate: 
Select correct option: 

An efficient use of the investment in inventory 
A high risk of stock-outs 
Stock position of store room 
All of the given options


Question # 1 of 15 ( Start time: 05:09:38 AM ) Total Marks: 1 
If a predetermined FOH rate is not applied and the volume of production is reduced from the planned capacity level, the cost per unit expected to: 
Select correct option: 

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 

Question # 2 of 15 ( Start time: 05:10:01 AM ) Total Marks: 1 
Period costs are 
Select correct option: 

Expensed when the product is sold 
Included in the cost of goods sold 
Related to specific Period 
Not expensed 

Question # 3 of 15 ( Start time: 05:10:18 AM ) 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 

Question # 4 of 15 ( Start time: 05:10:25 AM ) Total Marks: 1 
FOH absorption rate is calculated by the way of 
Select correct option: 

Estimated FOH Cost/Direct labor hours 
Estimated FOH Cost/No of units produced 
Estimated FOH Cost/Prime Cost 
All of the given options 

Question # 5 of 15 ( Start time: 05:10:43 AM ) Total Marks: 1 
The abbreviation LIFO is: 
Select correct option: 

Large integrated financial organization 
Least interesting financial option 
The last in first out method 
None of the given options 

Question # 6 of 15 ( Start time: 05:11:05 AM ) Total Marks: 1 
Weighted average cost per unit is calculated by which of the following formula? 
Select correct option: 

Cost of goods issued/number of units issued 
Total cost/total units 
Cost of goods manufactured/closing units 
Cost of goods sold/total units 

Question # 7 of 15 ( Start time: 05:11:13 AM ) Total Marks: 1 
A Blanket Rate is: 
Select correct option: 

A single rate which used throughout the organisation departments A double rates which used throughout the organisation departments 
A single rates which used in different departments of the organisation 
None of the given options 

Question # 8 of 15 ( Start time: 05:11:20 AM ) Total Marks: 1 
A worker is paid Rs. 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the piece rate system, the total wages of the worker would be: 
Select correct option: 

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 

Question # 9 of 15 ( Start time: 05:11:39 AM ) Total Marks: 1 
Which of the following is indirect cost? 
Select correct option: 

The depreciation of machinery 
The overtime premium incurred at the specific request of a customer 
The hire of tools for a specific job 
All of the given options 

Question # 10 of 15 ( Start time: 05:11:51 AM ) Total Marks: 1 
Factory Over head cost includes 
Select correct option: 

Factory Rent 
Property Tax 
Salaries of Factory Clerk 
All of the given 

Question # 11 of 15 ( Start time: 05:11:59 AM ) Total Marks: 1 
Manufacturing entities classified the inventory in which of three kinds? 
Select correct option: 

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 

Question # 12 of 15 ( Start time: 05:12:10 AM ) Total Marks: 1 
Which of the following is a mechanical device to record the exact time of the workers? 
Select correct option: 

Clock Card 
Store Card 
Token System 
Attendance Register 

Question # 13 of 15 ( Start time: 05:12:45 AM ) Total Marks: 1 
Merrick Differential Piece Rate System: 
Select correct option: 

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. 

Question # 14 of 15 ( Start time: 05:12:53 AM ) Total Marks: 1 
_______ are future costs that effect the current management decision. 
Select correct option: 

Sunk Cost 
Standard Cost 
Relevant Cost 
Irrelevant Cost 

Question # 15 of 15 ( Start time: 05:13:00 AM ) 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

Question # 1 of 15 ( Start time: 05:21:06 AM ) Total Marks: 1 
The FIFO inventory costing method (when using a perpetual inventory system) assumes that the cost of the earliest units purchased is allocated in which of the following ways? 
Select correct option: 

First to be allocated to the ending inventory 
Last to be allocated to the cost of goods sold 
Last to be allocated to the ending inventory 
First to be allocated to the cost of good sold 

Question # 2 of 15 ( Start time: 05:21:14 AM ) Total Marks: 1 
If computational and record-keeping costs are same under both FIFO and weighted average, which of the following method will generally be preferred? 
Select correct option: 

Weighted Average 
FIFO 
Hybrid process 
Cannot be determined with so little information 

Question # 3 of 15 ( Start time: 05:21:21 AM ) Total Marks: 1 
Which of the following would be considered a major aim of a job order costing system? 
Select correct option: 

To determine the costs of producing each job or lot 
To compute the cost per unit 
To include separate records for each job to track the costs 
All of the given options 

Question # 4 of 15 ( Start time: 05:22:08 AM ) Total Marks: 1 
A cost unit is 
Select correct option: 

The cost per hour of operating a machine 
The cost per unit of electricity consumed 
A unit of product or services in relation to which costs are ascertained 
A measure of work output in a standard hour 

Question # 5 of 15 ( Start time: 05:22:28 AM ) Total Marks: 1 
If, COGS = Rs. 50,000 GP Margin = 25% of sales What will be the value of Sales? 
Select correct option: 

Rs. 200,000 
Rs. 66,667 
Rs. 62,500 
None of the given options 

Question # 6 of 15 ( Start time: 05:22:48 AM ) Total Marks: 1 
Which of the following is/are reported in production cost report? 
Select correct option: 

The costs charged to the department 
How the costs were assigned to the output? 
The equivalent units of production by the department 
All of the given options 

Question # 7 of 15 ( Start time: 05:22:59 AM ) 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 

Question # 8 of 15 ( Start time: 05:23:07 AM ) Total Marks: 1 
Gross pay less deductions represents all except: 
Select correct option: 

Net pay 
Take home pay 
Total pay 
Other income 

Question # 9 of 15 ( Start time: 05:23:13 AM ) Total Marks: 1 
Which of the following is/are reasons of abnormal loss? 
Select correct option: 

Defective material used 
Machine breakdown 
Poor workmanships 
All of the given 

Question # 10 of 15 ( Start time: 05:23:21 AM ) Total Marks: 1 
If, Gross profit = Rs. 40,000 GP Margin = 25% of sales What will be the value of cost of goods sold? 
Select correct option: 

Rs. 160,000 
Rs. 120,000 
Rs. 40,000 
Can not be determined 

Question # 11 of 15 ( Start time: 05:23:37 AM ) Total Marks: 1 
Weighted average cost per unit is calculated by which of the following formula? 
Select correct option: 

Cost of goods issued/number of units issued 
Total cost/total units 
Cost of goods manufactured/closing units 
Cost of goods sold/total units 

Question # 12 of 15 ( Start time: 05:23:43 AM ) 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 

Question # 13 of 15 ( Start time: 05:24:01 AM ) Total Marks: 1 
Which of the following statement is correct regarding reasons of variance? 
Select correct option: 

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 

Question # 14 of 15 ( Start time: 05:24:53 AM ) Total Marks: 1 
In which of the following center FOH cost NOT incurred 
Select correct option: 

Production Center 
Service Center 
General Cost Center 
Head Office 

Question # 15 of 15 ( Start time: 05:25:25 AM ) 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.


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