Cost Accounting -Material Cost
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6 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Material Control
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Direct Material can be classified as ----------
Fixed cost
Variable cost
Semi-variable Cost
Prime Cost
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Continuous stock taking is a part of ------
Annual Stock Taking
Perpetual inventory
ABC Analysis
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3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Under the FSN system of inventory control, inventory is classified on the basis of -----
Volume of material consumption
Frequency of usage of items of inventory
Criticality of the item of inventory for production
Value of items of inventory
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Materials are issued from Store to production unit on the basis of -----
Material Transfer Note
Material Requisition Note
Bills of Materials
Purchase Requisition Note
5.
OPEN ENDED QUESTION
15 mins • Ungraded
X Ltd buys its annual requirement of 36000 units in 6 installments .Each units costs Rs.1 & the ordering cost is Rs.25. The inventory carrying cost is estimated at 20% of unit value.Find the total annual cost of the existing inventory policy .How much money can be saved by EOQ?
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6.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
State whether true or false:-
High Material turnover Ratio reduces the investment funds in inventory.
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