(A) A fixed cost
(B) A variable cost
(C) A mixed cost
(D) A step cost
Tag: Accounting Mcqs
Reduction of labor turnover, accidents, spoilage, waste and absenteeism are the results of which of the following wage plan?
(A) Piece rate plan
(B) Time rate plan
(C) Differential plan
(D) Group bonus system
All of the following are terms used to denote Factory Overheads EXCEPT:
(A) Factory burden
(B) Factory expenses
(C) Manufacturing overhead
(D) Conversion costs
Amount of net purchase can be calculated as follow:
(A) Purchase of direct material add trade discount less purchase return add carriage inward less other material handling cost
(B) Purchase of direct material less trade discount l add purchase return add carriage inward less other material handling cost
(C) Purchase of direct material less trade discount less purchase return less carriage inward add other material handling cost
(D) Purchase of direct material less trade discount less purchase return add carriage inward add other material handling cost
Working hours of labor can be calculated with the help of all except:
(A) Smart card
(B) Time sheet
(C) Clock card
(D) Store card
Increase in material Inventory means:
(A) The ending inventory is greater than opening inventory
(B) The ending inventory is less than opening inventory
(C) Both ending and opening inventories are equal
(D) Cannot be determined
Under Halsey premium plan, if the employee completes his job in less than the standard time fixed for the job, he is given:
(A) Only wages for the actual hours taken
(B) Wages for the actual hours taken plus bonus equal to one half of the wage of the time saved
(C) Wages for the actual hours taken plus bonus equal to one third of the wage of the time saved
(D) Only the bonus equal to one half of the time saved
Taylor’s Differential Piece Rate Plan uses__piece rates?
(A) Three
(B) Two
(C) Four
(D) Five