Mgt402 Current Online Quiz
Wednesday, January 19, 2011 Posted In MGT Edit This
Question # 1 of 15 ( Start time: 09:26:58 PM ) Total Marks: 1
While constructing a Break even chart, the gap between sales line and variable cost line shows which of the following?
Select correct option:
Fixed cost
Break even point
Contribution margin
Variable cost
Question # 2 of 15 ( Start time: 09:27:17 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 # 3 of 15 ( Start time: 09:27:47 PM ) Total Marks: 1
Consider the following data for the month of May: Sales 150 units,Opening units 120 units,Closing 80 units Based on the data, production in May will have to be?
Select correct option:
150 units
50 units
190 units
110 units
Question # 4 of 15 ( Start time: 09:27:54 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 # 5 of 15 ( Start time: 09:28:09 PM ) Total Marks: 1
Taylor's Differential Piece Rate Plan uses-----------piece rates.
Select correct option:
Three
Two
Four
Five
Question # 6 of 15 ( Start time: 09:28:23 PM ) Total Marks: 1
Consider the following data for the month of April: Closing stock 80 units,Production 280 units,Sales 330 units Based on the data, the opening stock for April will have to be:
Select correct option:
50 units
410 units
70 units
130 units
Question # 7 of 15 ( Start time: 09:29:26 PM ) 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 # 8 of 15 ( Start time: 09:29:43 PM ) Total Marks: 1
The point at which joint product costs become separately identifiable is known as the:
Select correct option:
Split-off point
Relative sales value point
Joint processing cost
None of the given options
Question # 9 of 15 ( Start time: 09:29:59 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
Question # 10 of 15 ( Start time: 09:30:30 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
Question # 11 of 15 ( Start time: 09:30:38 PM ) Total Marks: 1
The Term Mimimum Level Represents.
Select correct option:
This represents the quantity below which the stock of any item should not be allowed to fall
This represents the quantity below which the stock of any item should be allowed to fall
This is the estimated time period in number of days or in
weeks or in months.
This is the Lead time period in number of days or in
weeks or in months.
Question # 12 of 15 ( Start time: 09:31:00 PM ) Total Marks: 1
The components of the prime cost are:
Select correct option:
Direct Material + Direct Labor + Other Direct Cost
Direct Labor + Other Direct Cost + FOH
Direct Labor + FOH
None of the given options
Question # 13 of 15 ( Start time: 09:31:24 PM ) Total Marks: 1
Which one of the following factors would cause budgeted revenue to be less than the expected demand?
Select correct option:
Excess capacity exists
Abundant resources are available
Demand exceeds capacity
Excess supply of labor exists
Question # 14 of 15 ( Start time: 09:31:35 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
Question # 15 of 15 ( Start time: 09:32:15 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
...........
While constructing a Break even chart, the gap between sales line and variable cost line shows which of the following?
Select correct option:
Fixed cost
Break even point
Contribution margin
Variable cost
Question # 2 of 15 ( Start time: 09:27:17 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 # 3 of 15 ( Start time: 09:27:47 PM ) Total Marks: 1
Consider the following data for the month of May: Sales 150 units,Opening units 120 units,Closing 80 units Based on the data, production in May will have to be?
Select correct option:
150 units
50 units
190 units
110 units
Question # 4 of 15 ( Start time: 09:27:54 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 # 5 of 15 ( Start time: 09:28:09 PM ) Total Marks: 1
Taylor's Differential Piece Rate Plan uses-----------piece rates.
Select correct option:
Three
Two
Four
Five
Question # 6 of 15 ( Start time: 09:28:23 PM ) Total Marks: 1
Consider the following data for the month of April: Closing stock 80 units,Production 280 units,Sales 330 units Based on the data, the opening stock for April will have to be:
Select correct option:
50 units
410 units
70 units
130 units
Question # 7 of 15 ( Start time: 09:29:26 PM ) 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 # 8 of 15 ( Start time: 09:29:43 PM ) Total Marks: 1
The point at which joint product costs become separately identifiable is known as the:
Select correct option:
Split-off point
Relative sales value point
Joint processing cost
None of the given options
Question # 9 of 15 ( Start time: 09:29:59 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
Question # 10 of 15 ( Start time: 09:30:30 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
Question # 11 of 15 ( Start time: 09:30:38 PM ) Total Marks: 1
The Term Mimimum Level Represents.
Select correct option:
This represents the quantity below which the stock of any item should not be allowed to fall
This represents the quantity below which the stock of any item should be allowed to fall
This is the estimated time period in number of days or in
weeks or in months.
This is the Lead time period in number of days or in
weeks or in months.
Question # 12 of 15 ( Start time: 09:31:00 PM ) Total Marks: 1
The components of the prime cost are:
Select correct option:
Direct Material + Direct Labor + Other Direct Cost
Direct Labor + Other Direct Cost + FOH
Direct Labor + FOH
None of the given options
Question # 13 of 15 ( Start time: 09:31:24 PM ) Total Marks: 1
Which one of the following factors would cause budgeted revenue to be less than the expected demand?
Select correct option:
Excess capacity exists
Abundant resources are available
Demand exceeds capacity
Excess supply of labor exists
Question # 14 of 15 ( Start time: 09:31:35 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
Question # 15 of 15 ( Start time: 09:32:15 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
...........
