MBA/MBA Cost and Managerial Accounting Mcq Set 11 Sample Test,Sample questions

Question:
A disadvantage of an hourly wage plan is that it:

1.Provides no incentive for employees to achieve and maintain a high level of production.

2.Is hardly ever used and is difficult to apply.

3.Establishes a definite rate per hour for each employee.

4.Encourages employees to sacrifice quality in order to maximize earnings.


Question:
A Ltd. Has sales of 2,200, total fixed cost of 570, variable cost of 1,540, raw material consumed of 1,100, number of units sold 22,000. What shall be the BEP 9in units) if raw material price is reduced by 2%?

1.18,387

2.18,560

3.18,750

4.19,000


Question:
According to Rowan premium plan, which of the following formula is used to calculate the bonus rate?

1.(Time saved/time allowed) x 100

2.(Time allowed/time saved) x 100

3.(Actual time taken/time allowed) x 100

4.(Time allowed/actual time taken) x 100


Question:
All of the following are cases of labor turnover EXCEPT:

1.Workers appointed against the vacancy caused due to discharge or quitting of the organization

2.Workers employed under the expansion schemes of the company

3.The total change in the composition of labor force

4.Workers retrenched


Question:
Annual requirement is 7800 units; consumption per week is 150 units. Unit price 5, order cost 10 per order. Carrying cost 1 per unit and lead time is 3 week, The Economic order quantity would be:

1.395 units

2.300 units

3.250 units

4.150 units


Question:
Bin card is maintained by

1.Purchase department

2.Production department

3.Marketing department

4.Stores keeper


Question:
Cost of labour turnover may be treated as:

1.Direct wages

2.Prime cost

3.Overhead

4.None of the above


Question:
Data of a company XYZ is given below
Particulars
Sales 15,00,000
Variable cost 9,00,000
Fixed Cost 4,00,000
Break Even Sales in _______

1.1, 00,000

2.2, 00,000

3.13, 00,000

4.None of the given options


Question:
Direct Labor is an element of:

1.Prime cost

2.Conversion cost

3.Total production cost

4.All of the given options


Question:
FOH absorption rate is calculated by the way of:

1.Estimated FOH Cost/Direct labor hours

2.Estimated FOH Cost/No of units produced

3.Estimated FOH Cost/Prime Cost

4.All of the given options


Question:
Group bonus schemes are generally suitable where:

1.Output depends on individual efforts

2.Output of individual workers can be measured easily

3.It is necessary to create a collective interest in the work

4.Normal loss rate is high


Question:
If labor is satisfied with high wages it may ultimately lead to:

1.Increased production and productivity

2.Increased efficiency

3.Reduced labor and overhead costs

4.All of the given options


Question:
In account ting for labourcost:

1. direct labour cost and indirect labour cost are charged to prime cost

2.Direct labour cost and indirect labour cost are charged to overheads

3.Direct labour cost is charged to prime cost and indirect labour cost is charged to overheads

4.All of the above


Question:
In cost Accounting, abnormal loss is charged to:

1.Factory overhead control account

2.Work in process account

3.Income Statement

4.Entire production


Question:
In _______ costing the cost of a group of products is ascertained.

1.Process

2.Job

3.Batch

4.Service


Question:
Inventory of 96,000 was purchased during the year. The cost of goods sold was 90,000 and the ending inventory was 18,000. What was the inventory turnover ratio for the year?

1.5.0 times

2.5.3 times

3.6.0 times

4.6.4 times


Question:
Merit rating helps the following except:

1.Determining right worker for the right job/work

2.Delinking rewards with merits

3.Simplifying wage structure

4.Improving labour relations and reducing labour turnover


Question:
The capacity which is based on the long-term average of sales expectancy is known as:

1.Theoretical capacity

2.Operating capacity

3.Normal capacity

4.Derated capacity


Question:
The first in, first out method of pricing raw material issues, exhibits which one of the following features?

1.The issue price is recalculated each time new deliveries are made into stock.

2.The issue price is always at the latest price.

3.The goods are always issued strictly in the physical order in which they are received.

4.The issue price is always at the earliest price.


Question:
The flux method of labor turnover denotes:

1.Workers appointed against the vacancy caused due to discharge or quitting of the organization

2.Workers appointed in replacement of existing employees

3.Workers employed under the expansion schemes of the company

4.The total change in the composition of labor force


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

1.Decision making

2.Revenue generation

3.Cost incurrence

4.Investment


Question:
The methods of treating cost of small tools in cost accounts include

1.Charging to expense

2.Charging to stores

3.Capitalizing in a small tools account

4.All of the above


Question:
The period of time for which a work station is available for production but is not utilized due to shortage of tooling, materials, operators, etc. is known as:

1.Down time

2.Operation time

3.Idle time

4.Set-up time


Question:
The process of distribution of overheads allotted to a particular department or cost center over the units produced is called:

1.Allocation

2.Apportionment

3.Absorption

4.Departmentalization


Question:
The term Maximum level represents:

1.The maximum stock level indicates the maximum quantity of an item of material which can be held in stock at any time.

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

3.The average stock level indicates the maximum quantity of an item of material which can be held in stock at any time.

4.The available stock level indicates the maximum quantity of an item of material which can be held in stock at any time.


Question:
Under Periodic Inventory system Purchase of inventory is treated as:

1.Assets

2.Expense

3.Income

4.Liability


Question:
Wage, Rent & Materials are examples of:

1.Implicit Cost

2.Explicit Cost

3.Direct Cost

4.Manufacturing Cost


Question:
When a business is faced with a limiting factor (one which limits the activity of an entity) and there is a choice to be made between options to follow, which of the following statements describes the optimal course of action?

1.Choose the option which gives the highest unit profit.

2.Choose the option which gives the highest unit contribution.

3.Aim to achieve a balance of activities covering all of the options.

4.Choose the option which gives highest contribution per unit of limiting factor.


Question:
When a manufacturing process requires mostly human labor and there are widely varying wage rates among workers, what is probably the most appropriate basis of applying factory costs to work in process?

1.Machine hours

2.Cost of materials used

3.Direct labor hours

4.Direct labor dollars


Question:
Which of the following does not influence the useful life of an asset?

1.Expected physical wear and tear

2.Cost of the asset

3.Obsolescence

4.Legal or other limits on the use of the asset


Question:
Which of the following is false regarding the LIFO method of inventory valuation?

1.The material issue will be priced at the price of the material that is purchased last.

2.The pattern of cash flow does not necessarily coincide with the actual flow pattern of materials.

3.It permits management to influence net income by timing the purchases.

4.LIFO determines closing inventory at recent costs.


Question:
Which of the following is not an example of marketing overheads?

1.Salary of the foreman

2.Publicity expenses

3.Salaries of sales staff

4.Secondary packing charges


Question:
Which of the following is not included in functional classification of overheads?

1.Repairs and maintenance

2.Lubricating oil

3.Consumable stores

4.Chargeable expenses


Question:
_______ costing is suitable for mines, quarries, cement works etc.

1.Process

2.Contract

3.Batch

4.Operation


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  28. MBA Behavioural and Allied Sciences MCQ Set 5
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  30. MBA Behavioural and Allied Sciences MCQ Set 7
  31. MBA Behavioural and Allied Sciences MCQ Set 8
  32. MBA Behavioural and Allied Sciences MCQ Set 9
  33. MBA Behavioural and Allied Sciences MCQ Set 10
  34. MBA Brand Management MCQ Set 1
  35. MBA Brand Management MCQ Set 2
  36. MBA Brand Management MCQ Set 3
  37. MBA Brand Management MCQ Set 4
  38. MBA Brand Management MCQ Set 5
  39. MBA Business Communication MCQ Set 1
  40. MBA Business Communication MCQ Set 2
  41. MBA Business Communication MCQ Set 3
  42. MBA Business Communication MCQ Set 4
  43. MBA Business Communication MCQ Set 5
  44. MBA Business Communication MCQ Set 6
  45. MBA Business Communication MCQ Set 7
  46. MBA Business Communication MCQ Set 8
  47. MBA Business Communication MCQ Set 9
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  50. MBA Business Economics MCQ Set 1
  51. MBA Business Economics MCQ Set 2
  52. MBA Business Economics MCQ Set 3
  53. MBA Business Economics MCQ Set 4
  54. MBA Business Economics MCQ Set 5
  55. MBA Business Economics MCQ Set 6
  56. MBA Business Environment MCQ Set 1
  57. MBA Business Environment MCQ Set 2
  58. MBA Business Environment MCQ Set 3
  59. MBA Business Environment MCQ Set 4
  60. MBA Business Environment MCQ Set 5
  61. MBA Business Environment MCQ Set 6
  62. MBA Business Environment MCQ Set 7
  63. MBA Business Environment MCQ Set 8
  64. MBA Business Environment MCQ Set 9
  65. MBA Business Ethics and Governance MCQ Set 1
  66. MBA Business Law Mcq Set 1
  67. MBA Business Law Mcq Set 2
  68. MBA Business Law Mcq Set 3
  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
  72. MBA Business Law Mcq Set 7
  73. MBA Business Law Mcq Set 8
  74. MBA Business Law Mcq Set 9
  75. MBA Business Mathematics Mcq Set 1
  76. MBA Business Mathematics Mcq Set 2
  77. MBA Business Mathematics Mcq Set 3
  78. MBA Business Mathematics Mcq Set 4
  79. MBA Business Mathematics Mcq Set 5
  80. MBA Business Mathematics Mcq Set 6
  81. MBA Business Statistics Mcq Set 1
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  84. MBA Computers In Management Mcq Set 2
  85. MBA Computers In Management Mcq Set 3
  86. MBA Computers In Management Mcq Set 4
  87. MAB Cost and Managerial Accounting Mcq Set 1
  88. MBA Cost and Managerial Accounting Mcq Set 1
  89. MBA Cost and Managerial Accounting Mcq Set 2
  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
  92. MBA Cost and Managerial Accounting Mcq Set 5
  93. MBA Cost and Managerial Accounting Mcq Set 6
  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
  96. MBA Cost and Managerial Accounting Mcq Set 9
  97. MBA Cost and Managerial Accounting Mcq Set 10
  98. MBA Cost and Managerial Accounting Mcq Set 11
  99. MBA E-Business MCQ Set 1
  100. MBA E-Business MCQ Set 2
  101. MBA E-Business MCQ Set 3
  102. MBA E-Business MCQ Set 4
  103. MBA English Language MCQ Set 1
  104. MBA English Language MCQ Set 2
  105. MBA Entrepreneurship Management MCQ Set 1
  106. MBA Entrepreneurship Management MCQ Set 2
  107. MBA Entrepreneurship Management MCQ Set 3
  108. MBA Entrepreneurship Management MCQ Set 4
  109. MBA Entrepreneurship Management MCQ Set 5
  110. MBA Entrepreneurship Management MCQ Set 6
  111. MBA Financial Management MCQ Set 1
  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
  114. MBA Financial Management MCQ Set 4
  115. MBA Financial Management MCQ Set 5
  116. MBA Financial Management MCQ Set 6
  117. MBA Financial Management MCQ Set 7
  118. MBA Financial Management MCQ Set 8
  119. MBA Financial Management MCQ Set 9
  120. MBA Financial Management MCQ Set 10
  121. MBA Financial Management MCQ Set 11
  122. MBA Financial Management MCQ Set 12
  123. MBA Human Resource Management Mcq Set 1
  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
  126. MBA Human Resource Management Mcq Set 4
  127. MBA Human Resource Management Mcq Set 5
  128. MBA Human Resource Management Mcq Set 6
  129. MBA Human Resource Management Mcq Set 7
  130. MBA Human Resource Management Mcq Set 8
  131. MBA Insurance and Risk Management Mcq Set 1
  132. MBA Insurance and Risk Management Mcq Set 2
  133. MBA Insurance and Risk Management Mcq Set 3
  134. MBA Insurance and Risk Management Mcq Set 4
  135. MBA Insurance and Risk Management Mcq Set 5
  136. MBA Insurance and Risk Management Mcq Set 6
  137. MBA Management Information Systems Mcq Set 1
  138. MBA Management Information Systems Mcq Set 2
  139. MBA Management Information Systems Mcq Set 3
  140. MBA Management Information Systems Mcq Set 4
  141. MBA Management Information Systems Mcq Set 5
  142. MBA Management Information Systems Mcq Set 6
  143. MBA Management Information Systems Mcq Set 7
  144. MBA Management Information Systems Mcq Set 8
  145. MBA Management Information Systems Mcq Set 9
  146. MBA Marketing Management Mcq Set 1
  147. MBA Marketing Management Mcq Set 2
  148. MBA Marketing Management Mcq Set 3
  149. MBA Marketing Management Mcq Set 4
  150. MBA Marketing Management Mcq Set 5
  151. MBA Marketing Management Mcq Set 6
  152. MBA Marketing Management Mcq Set 7
  153. MBA Marketing Management Mcq Set 8
  154. MBA Marketing Management Mcq Set 9
  155. MBA Marketing Management Mcq Set 10
  156. MBA Marketing Management Mcq Set 11
  157. MBA Marketing Management Mcq Set 12
  158. MBA Marketing Management Mcq Set 13
  159. MBA Media Planning Mcq Set 1
  160. MBA Media Planning Mcq Set 2
  161. MBA Media Planning Mcq Set 3
  162. MBA Media Planning Mcq Set 4
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  164. MBA Operations Research Mcq Set 2
  165. MBA Operations Research Mcq Set 3
  166. MBA Operations Research Mcq Set 4
  167. MBA Operations Research Mcq Set 5
  168. MBA Organisational Behavior Mcq Set 1
  169. MBA Organisational Behavior Mcq Set 2
  170. MBA Organisational Behavior Mcq Set 3
  171. MBA Organisational Behavior Mcq Set 4
  172. MBA Principles and Practices of Management Mcq Set 1
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  174. MBA Principles and Practices of Management Mcq Set 3
  175. MBA Principles and Practices of Management Mcq Set 4
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  178. MBA Principles and Practices of Management Mcq Set 7
  179. MBA Principles and Practices of Management Mcq Set 8
  180. MBA Principles and Practices of Management Mcq Set 9
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  182. MBA Production and Operations Management Mcq Set 2
  183. MBA Production and Operations Management Mcq Set 3
  184. MBA Production and Operations Management Mcq Set 4
  185. MBA Production and Operations Management Mcq Set 5
  186. MBA Production and Operations Management Mcq Set 6
  187. MBA Production and Operations Management Mcq Set 7
  188. MBA Production and Operations Management Mcq Set 8
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  190. MBA Production and Operations Management Mcq Set 10
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  194. MBA System Analysis and Design Mcq Set 4
  195. MBA System Analysis and Design Mcq Set 5
  196. MBA System Analysis and Design Mcq Set 6
  197. MBA System Analysis and Design Mcq Set 7
  198. MBA System Analysis and Design Mcq Set 8
  199. MBA System Analysis and Design Mcq Set 9
  200. MBA Total Quality Management Mcq Set 1
  201. MBA Total Quality Management Mcq Set 2
  202. MBA Total Quality Management Mcq Set 3
  203. MBA Total Quality Management Mcq Set 4
  204. MBA Total Quality Management Mcq Set 5
  205. MBA Total Quality Management Mcq Set 6
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