(A) Material conservation
(B) Time saving
(C) Quality improvement and cost reduction
(D) All of the above
Tag: Financial Accounting Mcqs
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 :
(A) Down time
(B) Operation time
(C) Idle time
(D) Set-up time
The difference between gate time and time booked for jobs in respect of a worker in due to the following reasons except :
(A) Change-over time
(B) Illness
(C) Waiting for materials, instructions, etc.
(D) Breakdown of machine
Which would be an implicit cost for a firm? The cost:
(A) Of worker wages and salaries for the firm.
(B) Paid for leasing a building for the firm.
(C) Paid for production supplies for the firm.
(D) Of wages foregone by the owner of the firm.
The distinction between direct and indirect labour helps to :
(A) Measure efficiency of performance
(B) Determine product cost more accurately
(C) Ensure better cost analysis for decisions and control
(D) All of the above
Prime cost + Factory overhead cost is:
(A) Conversion cost.
(B) Production cost.
(C) Total cost.
(D) None of given option.
Fixed cost per unit decreases when:
(A) Production volume increases.
(B) Production volume decreases.
(C) Variable cost per unit decreases.
(D) Variable cost per unit increases.
__ method assumes that the goods received most recently in the stores or produced recently are the first ones to be delivered to the requisitioning department?
(A) FIFO
(B) Weighted average method
(C) Most recent price method
(D) LIFO