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Mid Term Papers SUBJECTUIVE FILE OF MGT402 SOLVED BY AFAAQ

Mid Term Papers SUBJECTUIVE FILE OF MGT402 SOLVED BY AFAAQ

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there seems something wrong in calculating total carrying cost, how u have calculated, show procedure?

nice work

The abbreviation LIFO is:
Select correct option:
Large integrated financial organization
Least interesting financial option
Last-in-First-out method
None of the given options
-----------------------------------------------------------------------------------
Question # 2 of 10 ( Start time: 06:10:28 PM ) Total Marks: 1
Under/Over applied FOH cost can be adjusted in which of the following:
Select correct option:
Entire Production
Cost of Good sold

Net Profit
All of given options
-----------------------------------------------------------------------------------
Question # 3 of 10 ( Start time: 06:11:42 PM ) Total Marks: 1
Which of the following is correct?
Select correct option:
Units sold=Opening finished goods units + Units produced – Closing
finished goods units
Units Sold = Units produced + Closing finished goods units - Opening finished
goods units
Units sold = Sales + Average units of finished goods inventory
Units sold = Sales - Average units of finished goods inventory
-----------------------------------------------------------------------------------
sec(s)
Question # 4 of 10 ( Start time: 06:12:30 PM ) Total Marks: 1
Gross pay less deductions represents all except:
Select correct option:
Net pay
Take home pay
Total pay

Other income
-----------------------------------------------------------------------------------
Question # 5 of 10 ( Start time: 06:13:33 PM ) Total Marks: 1
“Taking steps for the fresh purchase of those stocks which have been exhausted and for
which requisitions are to be honored in future” is an easy explanation of:
Select correct option:
Overstocking
Under stocking
Replenishment of stock
Acquisition of stock
-----------------------------------------------------------------------------------
Question # 6 of 10 ( Start time: 06:14:33 PM ) Total Marks: 1
If, COGS = Rs. 50,000 GP Margin = 25% of sales What will be the value of Sales?
Select correct option:
Rs. 200,000
Rs. 66,667
Rs. 62,500
None of the given options
-----------------------------------------------------------------------------------
Question # 7 of 10 ( Start time: 06:15:30 PM ) Total Marks: 1

Cost of Goods Manufactured can be calculated as follow
Select correct option:
Total factory Cost Add Opening Work in process inventory Less
Closing Work in process inventory
Total factory Cost Less Opening Work in process inventory Add Closing Work in
process inventory
Total factory Cost Less Opening Work in process inventory Less Closing Work in
process inventory
Total factory Cost Add Opening Work in process inventory Add Closing Work in
process inventory
-----------------------------------------------------------------------------------
Question # 8 of 10 ( Start time: 06:16:22 PM ) Total Marks: 1
EOQ is the order quantity that _________ over our planning horizon
Select correct option:
Minimizes total ordering costs
Minimizes total carrying costs
Minimizes total inventory costs
Minimize the required safety stock
-----------------------------------------------------------------------------------
Question # 9 of 10 ( Start time: 06:17:23 PM ) Total Marks: 1

In furniture manufacturing use of nail, pins, glue, and polish which use to increase its
esteem value that cost is treated as:
Select correct option:
Direct material cost
Indirect material cost
FOH cost
Prime cost
-----------------------------------------------------------------------------------
Question # 10 of 10 ( Start time: 06:18:19 PM ) Total Marks: 1
From employer point of view, the total cost of wages and salaries is a combination of
which of the following?
Select correct option:
Gross wages and salaries+employer's provident fund contributions
Gross wages and salaries+employee's provident fund contributions
Gross wages and salaries + Income Tax deductions
Gross wages and salaries + pension scheme payments

Check it

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