You are on page 1of 8

4/23/2016

CostAccountingMcqsPaperpkinfo

Search

HOME

HOME

PPSC PAPERS

GENERAL KNOWLEDGE

FPSC JOBS

NTS JOBS

AUDITING MCQS

ACCOUNTING MCQS

COSTING MCQS

GOVT JOBS

MCQS

UNCATEGORIZED

SENIOR AUDITOR (BS-16)

Cost Accounting Mcqs

CostAccountingMultipleChoiceQuestions(MCQS)Page1.Thefollowing
CostAccountingQuestionsfromdifferentPastPapersetc,PPSCPast
Papers,FpscPassPapers,NTSandalsofromMCQSBank.These
QuestionsarehelpfulforthepreparationofWrittentestforthePostsof
Accountant,CostAccountant,AuditorandanyforanyAccountsRelatedJobs
Tests.

(http://www.paperpkinfo.com/p/senior
POWr(https://www.powr.io)
Pages:1|2|3|4|5|6|7|8|
auditornoteswith.html)

MultipleChoiceQuestionsonCostAccounting
1.Coststhatchangeinresponsetoalternativecoursesofactionarecalled:
Builda
customizable
(http://www.paperpkinfo.com/2016/03/syllabus
a.Relevantcosts
ImageSlider
forseniorauditors.html)
b.Differentialcosts
PlugininMinutes
EnglishMcqs
GeneralKnowledgeMcqs

c.Targetcosts
d.Sunkcosts

2.ThecostdatapertainingtoProductXofXLLtd.areasfollows:

CSSPastPapers
DataEntryOperatorMcqs
IslamiatMcqs
PedagogyMcqs
SeniorAuditor1500MCQSWithNotes

Maximumcapacity30,000units
Normalcapacity15,000units
Increaseininventory1,880units
Variablecostperunit`12
Sellingpriceperunit`50
Fixedmanufacturingoverheadcosts`3,60,000
IftheprofitunderAbsorptioncostingmethodis`1,01,000,theprofitunderMarginal

http://www.paperpkinfo.com/p/costaccountingmcqs.html

SOCIAL PROFILES

Popular

Tags

JOBS
Admissions(13)
EducationDepartment(17)
FPSCResults(65)
FPSCUpdates(54)
NCLEXRNQuestions(228)
NTSResults(8)
NTSUpdates(5)
PakArmyJobs(20)
PakistanAirForceJobs(9)
PakistanNavyJobs(8)
PoliceDepartment(33)
PPSCJOBS(78)
PPSCPastPaper(17)
PPSCResults(83)

1/8

4/23/2016

CostAccountingMcqsPaperpkinfo

POPULAR POSTS
300MCQSOfGeneral
KnowledgePDFBookfor
TMO,InspectorCustom&
AppraisingOfficerJobs
Tests.
These300general
KnowledgeMCQSWithAnswerishelpful
forPPSCTMOTest.FPSCInspector
Custom,PreventiveOfficer,Appraising
Officera...
GeneralKnowledgeMcqs
WithAnswers.
GeneralknowledgeMultiple
ChoiceQuestions(MCQS)
Page1.ThefollowingMcqs
arecollectedfromdifferent
passpapersandfromMcqsBank....
GovernmentofPakistan
NationalAccountability
Bureau(NAB)NewJobs
Opportunities
GovernmentofPakistan
NationalAccountabilityBureauhasoffers
variuosPosts,Applicationsareinvited
fromsuitablecandidatesfromOn...
FederalPublicService
CommissionConsolidated
AdvertisementNo.02/2016
Recruitmentofvarious
Jobs
FederalPublicService
CommissionIslamabad,Thursdaythe05
Feb,2015ConsolidatedAdvertisement
No.02/2016forthefollowi...
FederalBoardofRevenue
(FBR)Jobsannouncement
Applicationsareinvitedfrom
suitablecandidates,fulfilling
basiceligibilityrequirements
forthefollowingcontract
basedPositions,...
FederalGovtEducational
Institutions(FGEI)Cantt/
Garrisons)Jobs
Announcement
MinistryofDefence,Federal

costingmethod
wouldbe
a.1,46,120
b.1,23,560
c.55,880
d.73,340

VisitVisa(3)

BLOG ARCHIVE
BlogArchive

PAGES

3.Thetotalcostincurredintheoperationofabusinessundertakingotherthanthe
costof
manufacturingandproductionisknownas
a.Directcost
b.Variablecost
c.Commercialcost
d.Conversioncost

Home
PrivacyPolicy
ContactUs
AboutUs

4.ConsiderthefollowingdataforacompanyduringthemonthofJune2012
Budgetedhours4,000Standardhoursforactualproduction4,400Maximumpossible
hoursinthebudgetperiod4,800Actualhours3,800Theactivityratioofthe
companyduringthemonthis
a.111%
b.120%
c.95%
d.117%
5.Totalunitcostsare
a.Independentofthecostsystem,usedtogeneratethem
b.Neededfordeterminingproductcontribution
c.Irrelevantinmarginalanalysis
d.Relevantforcostvolumeprofitanalysis
6.WhichofthefollowingbasesisnotappropriateforapportionmentofTransport
departmentscost?
a.Cranehours
b.Cranevalue
c.TruckMileage
d.Truckvalue
7.Thecostofobsoleteinventoryacquiredseveralyearsago,tobeconsideredina

http://www.paperpkinfo.com/p/costaccountingmcqs.html

2/8

4/23/2016
GovtEducationalInstitutions(FGEI)Cantt/
Garrisons)Directoratesirsyedroad
Rawalpindicantthasauthoriz...
FederalPublicServiceCommission
ConsolidatedAdvertisementNo.03/2016
FederalPublicServiceCommission
Islamabad,Thursdaythe04March,2016
ConsolidatedAdvertisementNo.03/2016
forthefollowingpo...
SchoolEducation
Department,Government
ofPunjabJobsforMaster
Trainees
DirectorateofStaff
Developmentisrunninga
ContinuousProfessionalDevelopment
Programme(CPD)fortrainingand
professionaldevelopme...
HigherEducation
Commission(HEC)Jobs
announcement
PakistanHigherEducation
Commissionannounced
variousJobsason1402
2016,inthenewspaperNawaiwaqat,
Applicationsareinvitedfroms...
FederalGovtofPakistan
MinistryofDefence(MOD)
Recruitmentof233Posts
MinistryofDefenceinvited
applicationsfromPakistani
Nationalshavingrequisite
educationalqualificationsexperienceand
agetofill...

CostAccountingMcqsPaperpkinfo

keepvs.disposaldecisionisanexampleof:
a.Uncontrollablecost
b.Sunkcost
c.Avoidablecost
d.Opportunitycost
8.Budgetedsalesforthenextyearis5,00,000units.Desiredendingfinishedgoods
inventoryis1,50,000unitsandequivalentunitsinendingWIPinventoryis60,000
units.Theopeningfinishedgoodsinventoryforthenextyearis80,000units,with
50,000equivalentunitsinbeginningWIPinventoryHowmanyequivalentunits
shouldbeproduced?
a.5,80,000
b.5,50,000
c.5,00,000
d.5,75,000
9.Iftheassetturnoverandprofitmarginofacompanyare1.85and0.35respectively,
thereturnoninvestmentis.
a.0.65
b.0.35
c.1.50
d.5.29

10.Acompanyiscurrentlyoperatingat80%capacitylevel.Theproductionunder
normalcapacitylevelis1,50,000units.Thevariablecostperunitis`14andthetotal
fixedcostsare`8,00,000.Ifthecompanywantstoearnaprofitof`4,00,000,then
thepriceoftheproductperunitshouldbe
a.37.50
b.38.25
c.24.00
d.35.00
11.Considerthefollowingdatapertainingtotheproductionofacompanyfora
http://www.paperpkinfo.com/p/costaccountingmcqs.html

3/8

4/23/2016

CostAccountingMcqsPaperpkinfo

particularmonth:
Openingstockofrawmaterial`11,570
Closingstockofrawmaterial`10,380
Purchaseofrawmaterialduringthemonth`1,28,450
Totalmanufacturingcostchargedtoproduct`3,39,165
Factoryoverheadsareappliedattherateof45%ofdirectlabourcost.
Theamountoffactoryoverheadsappliedtoproductionis
a.65,025
b.94,287
c.95,020
d.1,52,624
12.Thebudgetedannualsalesofafirmis`80lakhsand25%ofthesameiscash
sales.Iftheaverageamountofdebtorsofthefirmis`5lakhs,theaveragecollection
periodofcreditsalesmonths.
a.1.50
b.1.00
c.0.50
d.1.75

13.IftheminimumstocklevelandaveragestocklevelofrawmaterialAare
4,000and9,000unitsrespectively,findoutitsreorderquantity.
a.8,000units
b.11,000units
c.10,000units
d.9,000units

14.Aworkerhasatimerateof`15/hr.Hemakes720unitsofcomponent(standard
time:5minutes/unit)inaweekof48hours.HistotalwagesincludingRowanbonus
fortheweekis
a.792
b.820
http://www.paperpkinfo.com/p/costaccountingmcqs.html

4/8

4/23/2016

CostAccountingMcqsPaperpkinfo

c.840
d.864
15.Acompanymaintainsamarginofsafetyof25%onitscurrentsalesandearnsa
profitof`30lakhsperannum.Ifthecompanyhasaprofitvolume(P/V)ratioof
40%,itscurrentsalesamountto
a.200lakhs
b.300lakhs
c.325lakhs
d.Noneoftheabove
16.Salefortwoconsecutivemonths,ofacompanyare`3,80,000and`4,20,000.The
companysnetprofitsforthesemonthsamountedto`24,000and`40,000
respectively.Thereisnochangeincontribution/salesratioorfixedcosts.The
contribution/salesratioofthecompanyis.
a.1/3
b.2/5
c.
d.Noneoftheabove
17.ALimitedhasfixedcostsof`6,00,000perannum.Itmanufacturesasingle
productwhichitsellsfor200perunit.Itscontributiontosalesratiois40%.A
Limitedsbreakeveninunitsis
a.7,500
b.8,000
c.3,000
d.1,500
[Hint:Breakevenunits=Fixedcost/contributionperunit
=`6,00,000/40%of`200
=7,500]
18.ThecurrentliabilitiesofAkashLtd.is`30,000.Ifitscurrentratiois3:1and
Quickratiois1:1,thevalueofstockintradewillbe
a.20,000
http://www.paperpkinfo.com/p/costaccountingmcqs.html

5/8

4/23/2016

CostAccountingMcqsPaperpkinfo

b.30,000
c.60,000
d.Insufficientinformation
[Hint:CurrentRatio=CurrentAssets=3:1
CurrentLiabilities
CurrentAssets=`30,000x3=`90,000
QuickRatio=QuickAssets=1:1
QuickLiabilities
Liquidassets=`30,000x1=`30,000
Hence,valueofstockintrade:CALA=`(90,00030,000)
=`60,000]
19.Ifthecapacityusageratioofaproductiondepartmentis90%andactivityratiois
99%thentheefficiencyratioofthedepartmentis.
1.100%
2.120%
3.110%
4.105%
[Hint:Efficiencyratio(ER)=Std.hr.ofproductionActualhrs.
Activityratio(AR)=Std.hrs.forproductionBudgetedhrs.
Capacityratio(CR)=Actualhrs.Budgetedhrs.
Hence,ER=AR/CR=99%/90%=110%]
20.Intwoconsecutiveperiods,salesandprofitwere`1,60,000and`8,000
respectivelyinthefirstperiodand`1,80,000and`14,000respectivelyduringthe
secondperiod.IfthereisnochangeinfixedcostbetweenthetwoperiodsthenPV
ratiomustbe.

1.20%
2.25%
3.30%
4.40%

http://www.paperpkinfo.com/p/costaccountingmcqs.html

6/8

4/23/2016

CostAccountingMcqsPaperpkinfo

Answers

1b2c3c4a5c6b7b
8a9a10c11a12b13c14d
15b16b17a18c193203

LatestPosts
WATER&SANITATIONAGENCY(MDA)MULTAN
byPakistanInfo 16hoursago
ApplicationsarerequiredfromsuitablecandidatesforappointmentsoncontractbasisinWASA,Multanagainst
following...

WATER&SANITATIONAGENCY(MDA)MULTAN
GovtofPunjab,ForensicScienceAgencyJobsannouncement
ThePunjabHealthcareCommission(PHC)Jobsannouncement
BalochistanPoliceJobsOpportunities
FPSCAppraising,ValuationOfficers(BS16)Result

LikePage

JOBS BY PROFESSION

GOVERNMENT JOBS

JOBS BY CITY

DoctorsJobs

FederalGovtJobs

IslamabadJobs

EngineersJobs

GovtofPunjabJobs

SialkotJobs

BankJobs

NTSJobs

LahoreJobs

http://www.paperpkinfo.com/p/costaccountingmcqs.html

HOME
Home
PPSCPapers
FpscJobs
AccountingMcqs

7/8

4/23/2016
BankJobs

NTSJobs

CostAccountingMcqsPaperpkinfo
LahoreJobs

FPSCJobs

FaisalabadJobs

PPSCJobs

Introtoaccounting
McqsSet1
Mcqsset2
AuditngMcqs
Introtoauditing
GovtAudit
InternalControl
AuditEvidence
AuditPrepration
CostAccountingMcqs
GKnowledgeMcqs
IslamiatMcqs
Aboutus

Copyright2016Paperpkinfo|PoweredbyBlogger
DesignbyFThemes|BloggerThemebyLasanthaPremiumBloggerThemes|CloudCRM

http://www.paperpkinfo.com/p/costaccountingmcqs.html

8/8