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# Quiz # 01 MGT 402

Start date 13 November 2014 And last date 14 November 2014

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MGT 402 Quiz Attempt today

Question#01

The Inventory Turnover ratio is 5 times and numbers of days in a year is

365. Inventory holding period in days would be

Select correct option:

100 days

73 days

50 days

10 days

Question#02

In which of the following would there be a difference between financial and

managerial accounting?

Users of the information

Purpose of the information

Flexibility of practices

All of the given options

Question#03

The components of the prime cost are:

Select correct option:

Direct Material + Direct Labor + Other Direct Cost

Direct Labor + Other Direct Cost + FOH

Direct Labor + FOH

None of the given options

Question#04

If, Gross profit = Rs. 40,000 GP Margin = 25% of sales what will be the value of cost of

goods sold?

Select correct option:

Rs. 160,000

Rs. 120,000

Rs. 40,000

Cannot be determined

Question#05

In increasing production volume, the behavior of fixed cost

cost will be:

Increases,

Constant,

decreases

Decreases, increases

Question#06

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#07

Which of the following is an example of semi variable cost?

Select correct option:

Salary of supervisor

Rent of a building

Post paid mobile connection

None of the given options

Question#08

The components of the prime cost are:

Select correct option:

Direct Material + Direct Labor + Other Direct Cost

Direct Labor + Other Direct Cost + FOH

Direct Labor + FOH

None of the given options

Question#09

Where the applied FOH cost is greater than the actual FOH cost it is:

Select correct option:

Unfavorable variance

Favorable variance

Normal variance

Budgeted variance

Question#10

Increase in material Inventory means:

Select correct option:

The ending inventory is greater than opening inventory

The ending inventory is less than opening inventory

Both ending and opening inventories are equal

Cannot be determined

M. Asif  gud keep it up & thanks for sharing

Ans to Question 4 is Rs 120,000

1

2

3

4

5

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