(A) Direct labor force wages
(B) Administrative wages
(C) Selling wages
(D) All of the given options
Tag: Financial Accounting Mcqs
Which of the following is a mechanical device to record the exact time of the workers?
(A) Clock Card
(B) Store Card
(C) Token System
(D) Attendance Register
If labor is satisfied with high wages it may ultimately lead to:
(A) Increased production and productivity
(B) Increased efficiency
(C) Reduced labor and overhead costs
(D) All of the given options
In furniture manufacturing use of nail, pins, glue, and polish which use to increase its esteem value that cost is treated as:
(A) Direct material cost
(B) Indirect material cost
(C) FOH cost
(D) Prime cost
__ is the time worked over and above the employee’s basic working week:
(A) Flex time
(B) Overtime
(C) Shift allowance
(D) Commission
Cost of Goods Manufactured can be calculated as follow:
(A) Total factory Cost Add Opening Work in process inventory Less Closing Work in process inventory
(B) Total factory Cost Less Opening Work in process inventory Add Closing Work in process inventory
(C) Total factory Cost Less Opening Work in process inventory Less Closing Work in process inventory
(D) Total factory Cost Add Opening Work in process inventory Add Closing Work in process inventory
Which of the following statement is TRUE about FOH applied rates?
(A) They are used to control overhead costs
(B) They are based on actual data for each period
(C) They are predetermined in advance for each period
(D) None of the given
The flux method of labor turnover denotes:
(A) Workers appointed against the vacancy caused due to discharge or quitting of the organization
(B)Workers appointed in replacement of existing employees
(C) Workers employed under the expansion schemes of the company
(D) The total change in the composition of labor force