Normal idle time __________.
A. can be avoided
B. can be minimized
C. cannot be avoided
D. can be controlled
Select an option to see the answer and solution.
Cost of idle time arising due to non availability of raw material is _______.
A. charged to costing profit and loss account
B. charged to financial profit and loss account
C. charged to factory overhead
D. recovered by inflating the wage rate
Select an option to see the answer and solution.
Wage sheet is prepared by ________.
A. time keeping department
B. personnel department
C. payroll department
D. cost accounting department
Select an option to see the answer and solution.
Time and motion study is conducted by ________.
A. time keeping department
B. personnel department
C. payroll department
D. engineering department
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Under Gantts task and bonus plan no bonus is payable to a worker if his efficiency is less than ________.
Select an option to see the answer and solution.
When standard output is 10 units per hour and actual output is 12 units per hour, the efficiency is ________.
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Bonus under Halsey plan is paid ________.
A. at 50% of time saved
B. at 75% of time saved
C. at 80% of time saved
D. at 90% of time saved
Select an option to see the answer and solution.
Halsey premium plan is ________.
A. individual incentive scheme
B. group incentive scheme
C. time and piece wage system
D. differential piece wage system
Select an option to see the answer and solution.
Labour cost is the second element of ________.
A. cost
B. profit
C. sales
D. task
Select an option to see the answer and solution.
Number of methods available for calculation of Labour turnover is ________.
Select an option to see the answer and solution.
Merricks multiple piece rate system has _______.
A. two rates
B. three rates
C. four rates
D. five rates
Select an option to see the answer and solution.
Overhead is also known as ________.
A. ongoing cost
B. basic cost
C. extra cost
D. chargeable expenses
Select an option to see the answer and solution.
Reorder level = ________.
A. maximum level - minimum level
B. maximum consumption X maximum reorder period
C. minimum consumption x minimum reorder period
D. normal consumption X normal reorder period
Select an option to see the answer and solution.
Overhead can be classified according to function-wise as ________.
A. fixed o/h, variable o/h and semi-variable o/h
B. controllable o/h and uncontrollable o/h
C. manufacturing o/h, administration o/h and selling & distribution o/h
D. past cost and future cost
Select an option to see the answer and solution.
Allotment of overhead incurred for a particular cost centre to that specific cost centre is ________.
A. allocation
B. allotment
C. primary distribution
D. secondary distribution
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The process of setting standards and comparing actual performance with standards with a view to control the cost is ________.
A. cost reduction
B. cost control
C. cost allocation
D. cost ascertainment
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Under ABC method of material control, the material are classified according to __________.
A. its value
B. its usage
C. its nature
D. its availability
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This is a point at which the store keeper should initiate purchase requisition for fresh supply It is ________.
A. maximum stock level
B. minimum stock level
C. reorder level
D. average stock level
Select an option to see the answer and solution.
This is a level at which normal issue of material are stopped, but issued under special condition It is ________.
A. maximum stock level
B. minimum stock level
C. danger level
D. average stock level
Select an option to see the answer and solution.
Annual usage is 6000 units @ Rs 20 per unit Cost of placing an order is Rs 60 and annual carrying cost of one unit is 10% of inventory value EOQ = __________.
A. 600 units
B. 750 units
C. 1200 units
D. 1250 units
Select an option to see the answer and solution.