Cost & Management Accounting (MGT402)

1. Selling cost of a shoe manufacturing company is the example of:

   1. Period cost
   2. Product cost
   3. Standard cost
   4. Activity based costing

2. Capacity variance will be favorable if:

   1. Applied factory overhead cost > Estimated factory overhead cost
   2. Applied factory overhead cost < Estimated factory overhead cost
   3. Estimated factory overhead cost > Actual factory overhead cost
   4. Estimated factory overhead cost < Actual factory overhead cost

3. Which of the following is CORRECT to compute labor turnover rate by using Replacement method?

   1. Number of workers replaced during the period ÷ Average number of workers during the period
   2. Number of workers replaced during the period + Average number of workers during the period
   3. Number of workers replaced during the period × Average number of workers during the period
   4. Number of workers replaced during the period − Average number of workers during the period

4. Which of the given Inventory valuation method reports higher net income?

   1. First in First Out
   2. Weighted Average
   3. Last in First Out
   4. Average Cost

5. Buyer produced 20,000 units and their total factory cost was Rs. 450,000, other cost like property tax on factory building of Rs. 10,000 was included in that cost till year ended. The cost of per unit would be:

   1. Rs. 22.5
   2. Rs. 23.5
   3. Rs. 24.5
   4. Rs. 26.5

6. Cost of goods sold = ?
   Beginning inventory = Rs. 30,000
   Ending inventory = Rs. 40,000
   Inventory turnover Ratio = 10 times

   1. Rs. 350,000
   2. Rs. 70,000
   3. Rs. 10,000
   4. Rs. 35,000

Select a course code for Objective Questions:

ACC311 ACC501 BIF101 BIF401 BIF501 BIO101 BIO201 BIO202 BIO203 BIO204 BIO301 BIO302 BIO303 BIO401 BIO503 BNK603 BT101 BT201 BT301 BT302 BT401 BT402 BT403 BT404 BT405 BT406 BT501 BT504 BT505 BT604 CHE201 CHE301 CS001 CS101 CS201 CS202 CS204 CS301 CS302 CS304 CS311 CS401 CS402 CS403 CS408 CS501 CS502 CS504 CS506 CS508 CS601 CS602 CS604 CS605 CS607 CS609 CS610 CS614 CS707 CS710 ECO401 ECO402 ECO403 ECO404 EDU302 EDU401 EDU402 EDU501 EDU601 ENG101 ENG201 ENG301 ENG501 FIN611 FIN624 FIN625 ISL201 IT430 MCM101 MCM301 MGMT623 MGT101 MGT211 MGT301 MGT401 MGT402 MGT501 MGT502 MGT503 MGT510 MGT601 MGT603 MKT501 MKT610 MKT630 MTH101 MTH202 MTH302 MTH501 MTH601 MTH634 PAK301 PHY101 PHY301 PSY101 PSY403 PSY502 PSY512 SOC101 SOC301 SOC401 STA301 STA630 STA641 ZOO102 ZOO401 ZOO501 ZOO502 ZOO503 ZOO504 ZOO505 ZOO506 ZOO510 ZOO630

Select a course code for Subjective Questions:

ACC311 CS001 CS101 CS201 CS301 CS607 CS701 CS702 CS703 CS704 CS707 CS708 CS710 CS711 CS718 CS721 CS724 ECO401 ECO403 ENG101 ENG301 MGT703 MTH501 STA301