30 Aug 2015

Jobs Opportunities at Rafhan Maiz Products Company






Jobs Opportunities at Rafhan Maiz Products Company Ltd  Jarnawala . Following Jobs are announced by the Company.

Career Opportunities  

  • Deputy Manager Power House
  • Instrument Technications
  • Mechnical Engineers
  • Electrication
  • Boilers Engineers
  • Boiler Operators
  • Electrical Engineer
  • Instrument Engineers








Send Yours documents to the company address before closing date 10-09-2015

PPSC Advertisement No 29-08-2015 Recruitment for the Various Posts


Punjab Public Service Commission Consolidated Advertisement No 29-2015. Following Jobs are in the School Education Department Recruitment to 255 Posts of Subject Specilists Male, and 213 posts for Female. Applications are Required to submit Documents before closing date which is 14-09-2015


Career Opportunities 

  • Junior Research Officer
  • Security Officer
  • Subject Specialists Male 255 Posts
  • Subject Specialists Male and Female 213 Psots
  • Social Welfare Officer 38 Posts






29 Aug 2015

FPSC Notice for Submission of Documents to the Pots of Senior Auditors (BS-16)




Federal Public Service Commission Notice for Submission of Documents against the 674 posts of  Senior Auditors (BS-16) Pakistan Military Accounts Department, Ministry of Defense.

With reference to their online applications the following candidates whose names Roll Nos, have been given below are advised to furnish the requisite documents as mentioned within 15 days understood that asking of requisite documents should not be inferred that these candidates have been pre selected and their eligibility in all respects in terms of advertised conditions shall be determined after scrutiny of their documents.








National Highway Authority (NHA) Islamabad Career Opportunities



Pakistan National Highway Authority Recruitment Announced to the following Positions.
Applications are invited from suitable Pakistani Nationals. Interested Candidates can Send their attested documents to the following address with in 15 days of this advertisement.


Jobs

  • Head team Leader
  • Program Manager





28 Aug 2015

Cost Accounting Multiple Choice Questions


Cost Accounting Multiple Choice Questions ( MCQS) Page-5. The following Cost Accounting Questions from different Past Papers etc, PPSC Past Papers, Fpsc Pass Papers, NTS and also from MCQS Bank. These Questions are helpful for the preparation of Written test for the Posts of Accountant, Cost Accountant, Auditor and any for any Accounts Related Jobs Tests.

Pages: | 2 3 | 4 | 5 | 6 | 7 | 

Multiple Choice Questions on Cost Accounting


81. Selling price per unit is ` 15, total variable cost per unit is ` 9, and total fixed costs are  15,000 of XIT‖. What is the breakeven point in units for ―XIT‖? 

a. 3,000 units
b. 1,000 units
c. 1,667 units
d. 2,500 units

82. While constructing a Break even chart, the gap between sales line and variable cost line shows which of the following?

a. Fixed cost
b. Break even point
c. Contribution margin
d. Variable cost

83. All of the following compose cost of goods sold EXCEPT:

a. Raw material
b. Labor
c. Capital
d. Factory overhead

84. Amount of Depreciation on fixed assets will be fixed in nature if calculated under which of the following method?

a. Straight line method
b. Reducing balance method
c. Some of year's digits method
d. Double declining method

85. Which of the following is NOT a relevant cost to decision making?

a. Opportunity costs
b. Relevant benefits
c. Avoidable costs
d. Sunk costs

86. What would be the attitude of the management in treating Sunk costs in decision making?

a. A periodic investment of cash resources that has been made and should be relevant for
decision making
b. It is a past cost which is not directly relevant in decision making
c. Management will treat it as variable cost each time in decision making
d. None of the given options

87. Mr. Aslam is running his own personal Financial services business. He has been offered a job for a salary of ` 45,000 per month which he does not availed. ` 45,000 will be considered as:

a. Sunk Cost
b. Opportunity cost
c. Avoidable cost
d. Historical cost

88. Which of the given cost does not become the part of cost unit?

a. Advertising expenses
b. Direct labor cost
c. Factory overhead cost
d. Cost of raw material


89. Budgeted Factory overhead at two activity levels is as follows for the period. 
Activity level Budgeted factory overhead
Low 10,000 Hours ` 40,000
High 50,000 Hours ` 80,000
Required: Identify variable rate with the help of above mentioned data. 

a.  4.00 per hour
b.  1.60 per hour
c.  1.00 per hour
d.  2.00 per hour

90. Which of the given cost is NOT required to prepare Cost of Production Report? 

a. Period cost
b. Material cost
c. Labour cost
d. Factory overhead cost

91. Identify the FOH rate on the basis of machine hour?

a.  4.00
b.  4.08
c.  4.210
d.  4.35

92. Which of the given will NOT be included for the calculation of equivalent units of material under weighted average costing method?


a. Opening work in process units
b. Closing work in process units
c. Unit completed and transferred out
d. None of the given options

93. The basic assumption made in direct costing with respect to fixed costs is that

a. Fixed cost is a controllable cost
b. Fixed cost is a product cost
c. Fixed cost is an irrelevant cost
d. Fixed cost is a period cost

94. The little Rock Company shows Break even sales is ` 40, 500 and Budgeted Sales is ` 50,000. Identify the Margin of safety ratio?


a. 19%
b. 81%
c. 1.81%
d. Required more data to calculate

95. A machine cost ` 60,000 five years ago. It is expected that the machine will generate future revenue of 40,000. Alternatively, the machine could be scrapped for ` 35,000. An equivalent machine in the same condition cost 38,000 to buy now. 
Required: Identify the realizable value with the help of given data. 

a.  60,000
b.  40,000
c.  35, 000
d.  38,000
Budgeted production overheads `2,80,000
Actual machine hours 70,000 hours
Actual production overheads `2,95,000

96. Cost of finished goods inventory is calculated by:

a. Deducting total cost from finished goods inventory
b. Multiplying units of finished goods inventory with the cost per unit
c. Dividing units of finished goods inventory with the cost per unit
d. Multiplying total cost with finished goods inventory

97. Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to:

a. Opening stock Less purchases plus closing stock
b. Closing stock plus purchases plus opening stock
c. Sales less gross profit
d. Purchases plus closing stock plus opening stock plus direct labor

98. All of the following are essential requirements of a good wage system EXCEPT:

a. Reduced labor and overhead costs
b. Reduced per unit variable costs
c. Increased production
d. Increased operating costs

99. Profit under absorption costing will be higher than under marginal costing if :

a. Produced units > Units sold
b. Produced units < Units sold
c. Produced units = Units sold
d. Profit cannot be determined with given statement

100. Good Job Plc makes one product which sells for ` 80 per unit. Fixed costs are ` 28,000 per month and marginal costs are ` 42 per unit. What sales level in units will provide a profit of ` 10,000?

a. 350 units
b. 667 units
c. 1,000 units
d. 1,350 units


Answers:




81 d 82 c 83 c 84 a
85 d 86 b 87 b 88 a 89 c 90 a 91 a
92 d 93 d 94 a 95 c 96 b 97 c 98 d
99 a 100 c



Cost Accounting Quizes

Cost Accounting Multiple Choice Questions ( MCQS) Page-4. The following Cost Accounting Questions from different Past Papers etc, PPSC Past Papers, Fpsc Pass Papers, NTS and also from MCQS Bank. These Questions are helpful for the preparation of Written test for the Posts of Accountant, Cost Accountant, Auditor and any for any Accounts Related Jobs Tests.

Pages: | 2 3 | 4 | 5 | 6 | 7 | 

Multiple Choice Questions on Cost Accounting



61. Which of the following statement is TRUE about the relevant cost?

a. It is a sunk cost
b. It is an opportunity cost
c. It do not affect the decision making process
d. All costs are relevant

62. In decision making all costs already incurred in past should always be:

a. Ignored
b. Considered
c. Partially ignored
d. Partially considered

63. Which of the following statement is TRUE about historical cost?

a. It is always relevant to decision making
b. It is always irrelevant to decision making
c. It is always an opportunity cost
d. It is always realizable value

64. In cost accounting, unavoidable loss is charged to which of the following? 

a. Factory over head control account
b. Work in process control account
c. Marketing overhead control account
d. Administration overhead control account

65. Merrick Differential Piece Rate Plan based on _____________piece rates is fixed.

a. Two
b. Three
c. Four
d. Five

66. Which of the given is (are) the method(s) of measurement of Labor Turnover?

a. Separation method
b. Flux method
c. Replacement method
d. All of the given options

67. What will be the impact of normal loss on the overall per unit cost ?

a. Per unit cost will increase
b. Per unit cost will decrease
c. Per unit cost remain unchanged
d. Normal loss has no relation to unit cost

68. Which of the given units can never become part of first department of Cost of Production Report? 

a. Units received from preceding department
b. Units transferred to subsequent department
c. Lost units
d. Units still in process

69. Details of the process for the last period are as follows:
Put into process 5,000 kg
Materials ` 2,500 
Labor `700
Production overheads 200% of labor
Normal losses are 10% of input in the process. The output for the period was 4,200 Kg from the 
process. There was no opening and closing Work- in- process. What were the units of abnormal 
loss?

a. 500 units
b. 300 units
c. 200 units
d. 100 units

70. ABC Company makes a single product which it sells for ` 20 per unit. Fixed costs are ` 75,000 per 
month and product has a profit/volume ratio of 40%. In that period actual sales were ` 225,000. 
Required: Calculate ABC Company Break Even point in `

a. 187, 500
b. 562, 500
c.  1,500,000
d. None of the given options

71. All of the following are the features of fixed costs EXCEPT:

a. Although fixed within a relevant range of activity level but are relevant to a decision making
when it is avoidable.
b. Although fixed within a relevant range of activity level but are relevant to a decision making
when it is incremental.
c. Generally it is irrelevant
d. It is relevant to decision making under any circumstances

72. A typical factory overhead cost is:

a. Distribution
b. Internal audit
c. Compensation of plant manager
d. Design

73. An average cost is also known as: 

a. Variable cost
b. Unit cost
c. Total cost
d. Fixed cost

74. Period costs are:

a. Expensed when the product is sold
b. Included in the cost of goods sold
c. Related to specific period
d. Not expensed

75. While calculating the EOQ, number of orders is calculated by:

a. Dividing required unit by ordered quantity
b. Multiplying the required units with ordered quantity
c. Multiplying the ordered quantity with cost per order
d. Multiplying the required units with cost per order

76. Which of the following best describe piece rate system?

a. The increased volume of production results in decreased cost of production
b. The increased volume of production in minimum time
c. Establishment of fair standard rates
d. Higher output is a result of efficient management

77. The term Cost apportionment is referred to:

a. The costs that can not be identified with specific cost centers.
b. The total cost of factory overhead needs to be distributed among specific cost centers but
must be divided among the concerned department/cost centers.
c. The total cost of factory overhead needs to be distributed among specific cost centers.
d. None of the given options

78. Which of the following loss is not included as part of the cost of transferred or finished goods, but rather treated as a period cost?

a. Operating loss
b. Abnormal loss
c. Normal loss
d. Non-operating loss

79. Hyde Park Company produces sprockets that are used in wheels. Each sprocket sells for ` 50 and 
the company sells approximately 400,000 sprockets each year. Unit cost data for the year follows: 
Direct material ` 15
Direct labor ` 10
Other cost:
Manufacturing
Distribution
Fixed 
` 5
` 4
Variable
` 7
` 3
Required: Identify the unit cost of sprockets under direct costing

a.  44
b.  37
c.  32
d.  35

80. When production is equal to sales, which of the following is TRUE? 

a. No change occurs to inventories for either use absorption costing or variable costing methods
b. The use of absorption costing produces a higher net income than the use of variable costing
c. The use of absorption costing produces a lower net income than the use of variable costing
d. The use of absorption costing causes inventory value to increase more than they would though

the use of variable costing




Answers


61 b 62 a 63 b
64 a 65 b 66 d 67 a 68 a 69 b 70 d
71 d 72 c 73 b 74 c 75 a 76 b 77 c
78 b 79 d 80 a 








Cost Accounting Quiz

Cost Accounting Multiple Choice Questions ( MCQS) Page-3. The following Cost Accounting Questions are Collected from different Past Papers etc, PPSC Past Papers, Fpsc Pass Papers, NTS and also from MCQS Bank. 

These Questions are helpful for the preparation of Written test for the Posts of Accountant, Cost Accountant, Auditor and any for any Accounts Related Jobs Tests.

Pages: | 2 3 | 4 | 5 | 6 | 7 | 

Multiple Choice Questions on Cost Accounting



41. If, Sales = ` 800,000 
Markup rate = 25% of cost 
What would be the value of Gross profit?

a.  200,000
b.  160,000
c.  480,000
d.  640,000

42. Which of the following is TRUE when piece rate system is used for wage determination?

a. Under this method of remuneration a worker is paid on the basis of time taken by him to
perform the work
b. Under this method of remuneration a worker is paid on the basis of production
c. The rate is expressed in terms of certain sum of money for total production
d. The rate is not expressed in terms of certain sum of money for total production

43. The salary of factory clerk is treated as:

a. Direct labor cost
b. Indirect labor cost
c. Conversion cost
d. Prime cost

44. Average consumption x Emergency time is a formula for the calculation of:

a. Lead time
b. Re-order level
c. Maximum consumption
d. Danger level

45. EOQ is a point where:

a. Ordering cost is equal to carrying cost
b. Ordering cost is higher than carrying cost
c. Ordering cost is lesser than the carrying cost
d. Total cost is maximum

46. A worker is paid ` 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the piece rate system, the total wages of the worker would be: 

a. 18 x 0.50 = ` 9
b. 18 x 7 = ` 126
c. 7 x 0.5 = ` 3.5
d. 18 x 7 x 0.50 = ` 63

47. When closing stock is over valuate, what would its effect on profit?

a. Cannot determined with given statement
b. It will Increase the profit
c. It will decrease the profit
d. No effect on profit

48. A firm sells bags for ` 14 each. The variable cost for each unit is ` 8. What is the contribution margin per unit? 

a.  6
b.  12
c.  14
d.  8

49. Which of the following is NOT true? A small company's breakeven point: 

a. Occurs where its revenue equals its expenses
b. Shows entrepreneurs‘ minimum level of activity required to keep the company in operation
c. Is the point at which a company neither earns a profit nor incurs a loss
d. Total contribution margin equals total variable expenses

50. Keller Co. sells a single product for ` 28 per unit. If variable costs are 65% of sales and fixed costs total ` 9,800, the break-even point will be:

a. 15,077 units
b. 18,200 units
c. 539 units
d. 1,000 units

51. If B Limited shows required production of 120 cases of product for the month, direct labor per case is 3 hours at ` 12 per hour. Budgeted labor costs for the month should be: 

a.  1,360
b.  1,440
c.  4,320
d.  5,346

52. Which of the following is a process by which managers analyze options available to set courses of  action by the organization?

a. Heuristics method
b. Decision making
c. The Delphi technique
d. Systematic error

53. Which of the following is not true about differential costs?

a. It is a broader concept than variable cost as it takes into account additional fixed costs
caused by management decisions
b. With the passage of time and change in situation, differential costs will vary
c. The difference in cost between buying them from outside or make them in the company is
differential cost, irrelevant for decisions
d. They are extra or incremental costs caused by a particular decision

54. Which one of the following is the Traditional approach for costing?

a. Contribution approach
b. Absorption costing approach
c. Decision making approach
d. Marginal costing approach

55. What would be the margin of safety ratio based on the following information?
Sales price = ` 100 per unit
Variable cost = ` 25 per unit
Fixed cost = ` 50 per unit 

a. 25%
b. 33.333%
c. 66.666%
d. 75%

56. If:
Cost of opening finished goods ` 2,000
Cost of goods to be produced ` 6,000 
Operating expenses ` 1,000. 
Which of the following is the cost of goods available for sale? 

a.  8,000
b.  4,000
c.  7,000
d.  9,000

57. Ahmed Corporation has sales of ` 500,000 for the period. The selling expenses are estimated as 
12% of sales. The gross profit for the period is amounting to ` 150,000.
Calculate the amount of selling expenses for the period?

a.  60,000
b.  45,000
c.  90,000
d.  210,000

58. Which of the following would be considered to be an investment centre?

a. Managers have control over marketing
b. Managers have a sales team
c. Managers have a sales team and are given a credit control function
d. Managers can purchase capital assets and are given a credit control function

59. Which of the following would NOT lead to an increase in net cash flow?

a. Larger sales volume
b. Higher selling price
c. Reduced material cost
d. Charging of lower depreciation

60. All of the following are features of a relevant cost EXCEPT:

a. They affect the future cost
b. They cause an increment in cost
c. Relevant cost is a sunk cost

d. They affect the future cash flows






Answers





41 b 42 b 43 b 44 d 45 a 46 a 47 b 48 a 49 d
50 d 51 c 52 b 53 c 54 b 55 b 56 a
57 a 58 d 59 d 60 c

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