MGT402 Current Quiz 3 Solved Spring 2010

**Guru** · 06-25-2010, 12:25 AM

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MGT402 Current Quiz # 3 Solved

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 (not Sure)
Ultimate sales value
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

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