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JSPMs

JAYAWANT INSTITUATE OF COMPUTER APPLICATION

Department: MBA ROLL NO:


SKILL TEST-1 SUB: STRATEGIC COST MANAGEMENT

Semester : II State True or False ( Q.1 to Q.5) Q.1 Q.2 Q.3 Q.4 Q.5

Marks-25

Logistics management is the part of the Supply Chain Management process: T/F Supply Chain Management is the part of the Logistics management process: T/F Variable cost = total cost fixed cost: Contribution + variable cost = Selling Price: Strategic Cost Management is the managerial use of cost information: T/F T/F T/F

Q.6 What is BEP? Ans:_____________________________________________________________ ________________________________________________________________ Explain following terms. In short ( Q.7 to Q.9) Q.7 Marginal cost:___________________________________________________

___________________________________________________________________ Q.8 Variable Cost:___________________________________________________

___________________________________________________________________ Q.9 Fixed Cost:_____________________________________________________

____________________________________________________________________

Q.10 ___________ is the factor which is most important for taking decisions about profitability of the concern. a) Fear factor b) Key Factor c) Job Factor d) Time

Q.11 ________________is the difference between budgeted sales and Break even sales. a) BEP b) Margin of safety c) Angle of incidence d) profit Q.12 The ratio of contribution to sales can be expressed as ______________. a) P/V ratio b) Break even Ratio c) Profit margin d) Sales turnover

Q.13 What is Allowance in work study? Q.14 ___________supplies the estimate regarding the standard time required to perform a given job. a) Work study b) Time Study c) Motion study d) Work measurement Q.15 Strategic Cost Management is the tool for______________. a) Cost control b) Cost reduction c) Performance evaluation d) All of the above Q.16 ___________________ensures the relationship between every element of cost and the function of the product. a) Value engineering b) Value added c) Cost analysis d) None of the above Explain in brief. ( Q.17 to Q.19) Q.17 Value added Q.18 Value engineering Q.19 Cost Unit Q.20 Name the various types of value. Q.21 ______________is a quantitative unit of product oe service or time in relation to which costs are ascertained or expressed. a) Cost centre b) Cost Unit c) Cost element

d) none Q.22 What are the various types of waste? Q.23 Give any 2 reasons for material waste. Q.24 ____________means managerial residue. a) waste b) scrap c) spoilage d) none Q.25 ____________represents the portion of basic raw materials lost in processing having no recoverable value. a) Waste b) Scrap c) Spoilage d) none
JSPMs

JAYAWANT INSTITUATE OF COMPUTER APPLICATION

Department: MBA ROLL NO:


SKILL TEST-2 SUB: STRATEGIC COST MANAGEMENT Semester : II Marks-25

Q.26 ______________means damage beyond rectification. a) Waste b) Scrap c) Spoilage d) none Q.27 _____________ is the systematic and analytical study of work processes and work methods to improve productivity. a) Method study b) Work study c) Both d) none Q.28 Method study deals with______________. a) Improve basic processes. b) Improve handling of materials.

c) Improve quality d) All of the above. Q.29 ________________ deals with the economical movements of all the factors of Production. a) Time study b) Motion study c) Method study d) none Q.30 _____________helps to find out the least time consuming method for job. a) Motion study b) Time study c) Plant layout d) none Q.31 _____________is the scheme that states that the worker is paid on the basis of time attended by him in the factory irrespective of the work done by him. a) incentives b) time wage system c) both d) none Q.32 _____________is the scheme that states that the worker is paid a fixed amount per unit produced irrespective of the time taken. a) incentives b) time wage system c) piece rate system d) none Define( Q.33 to Q.35) Q.33 Differencial Piece rate System Q.34 Piece rate System Q.35 Time wage System Q.36 ______________is the method of finding the percentage occurrence of a certain activity by statistical tools and random observation. a) Work Sampling b) Bonus scheme c) Incentive scheme d) none Q.37 ___________helps in increase efficiency by uncovering the sources of delay. a) Work Sampling b) Bonus scheme c) Incentive scheme

d) none Q.38 The graph showing profit or loss at various levels of production is__________. a) Pie chart b) Profit/Loss Chart c) Break Even Chart d) None Q.39 ____________ establishes the relationship between cost, production and profit. a) Break even analysis b) Cost analysis c) Value analysis d) none Q.40 State formula for P/V Ratio. Q.41 What is angle of incidence? Q.42 What is margine of safety? Q.43 Main objective of Profit planning is to maximise the firms overall profits. ( true / false) Q.44 What is budgetory control? Define. Explain the foll. Terms in single sentence. Q.45 Sales Budget Q.46 Production Budget Q.47 Master Budget Q.48 A budget prepared for a particular level of activity is called___________. a) Fixed Budget b) Flexible budget c) Both d) None Q.49 A budget prepared for a range of activities rather than a single level of activity is called___________. a) Fixed Budget b) Flexible budget c) Both d) None Q.50 Standard costs are _______________-. a) Future costs b) Unique costs c) Pre-determined costs d) None

1 True 2 False 3 True 4 True 5 True 6 7 8 9 10 b 11 b 12 13 14 b 15 d 16 a 17

18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34

b a c b d b b b c

35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

a a c a P/V Ratio= Contribution /sales X 100

True

a b c