(A) Direct labor hours
(B) Direct labor costs
(C) Machine hours
(D) Cost of material used
Which of the following cost is used in the calculation of cost per unit?
(A) Total production cost
(B) Cost of goods available for sales
(C) Cost of goods manufactured
(D) Cost of goods Sold
A high inventory turnover may indicate:
(A) An efficient use of the investment in inventory
(B) A high risk of stock-outs
(C) Stock position of store room
(D) All of the given options
In cost Accounting, abnormal loss is charged to:
(A) Factory overhead control account
(B) Work in process account
(C) Income Statement
(D) Entire production
In order to ensure efficient functioning of the stores department and steady flow of materials to the production departments, the restocking of stores is duty of:
(A) Managers
(B) Storekeeper
(C) Production In charge
(D) Sales supervisor
Which of the following is NOT an assumption of the basic economic-order quantity model?
(A) Annual demand is known
(B) Ordering cost is known
(C) Carrying cost is known
(D) Quantity discounts are available
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:
(A) Remain unchanged for fixed cost and increase for variable cost
(B) Increase for fixed cost and remain unchanged for variable cost
(C) Increase for fixed cost and decrease for variable cost
(D) Decrease for both fixed and variable costs
Which of the following is / are element / s of production payroll?
(A) Direct labor force wages
(B) Administrative wages
(C) Selling wages
(D) All of the given options