Question
“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
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
Cost of Goods Manufactured can be calculated as follow
Select correct option:
-
Total factory Cost Add Opening Work in process inventory Less Closing Work in process inventory
- Total factory Cost Less Opening Work in process inventory Add Closing Work in process inventory
- Total factory Cost Less Opening Work in process inventory Less Closing Work in process inventory
- Total factory Cost Add Opening Work in process inventory Add Closing Work in process inventory
Question
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
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
From employer point of view, the total cost of wages and salaries is a combination of
which of the following?
Select correct option:
-
Gross wages and salaries+employer’s provident fund contributions
- Gross wages and salaries+employee’s provident fund contributions
- Gross wages and salaries + Income Tax deductions
- Gross wages and salaries + pension scheme payments
Question
The abbreviation LIFO is:
Select correct option:
- Large integrated financial organization
- Least interesting financial option
-
Last-in-First-out method
- None of the given options
Question
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
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
Gross pay less deductions represents all except:
Select correct option:
- Net pay
- Take home pay
- Total pay
-
Other income