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# Mgt 402 All Current Mid Term Papers Fall 2013 ~ From (20 Dec , 2013 to 1 Jan 2014 )

All Current Mid Term Papers Fall 2013

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MGT402 Today Paper

Total Questions = 27

Total MCQ = 22 (Each of 1 Marks)
Total Short Questions = 3 (Each of 3 Marks)
Total Long Questions = 2 (Each of 5 Marks)

1. Explain equivalent production. Marks 3
2. There are two wage rate principles i.e. time wage and piece rate. Explain these systems. Marks 3

3. ABC company’s data is as under:
400 units already in inventory @ Rs. 5
Additional 500 units purchased @ Rs. 6
ABC Company sold 800 units @ Rs. 8
Required:
If ABC Company is following LIFO method than compute GROSS MARGIN to be shown on income statement. Marks 3

4.                 Wage rate per hour                    Rs. 3.50
Time allowed for the job             21 hours
Time taken                                19 hours.
Required:
1. Calculate the Gross earnings of the worker according to Halsey Premium Plan.
2. Find out effective “rate of earnings” Marks 5

5.                                                Marks 5

Units transferred to next department                                  40,000
Units still in process (all material, 2/3 labour & FO H)          8,000

Following costs were added during the process.

Materials                               Rs.40,500
Labour                                     101,700

Required:
You are required to calculate equivalent units of material, labour and factory

Overhead and unit cost of material, labour and factory overhead.

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