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G 11 Cost

Authored by Maya Kharishma

Business

11th Grade

Used 3+ times

G 11 Cost
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a reason for keeping cost information?

It is a legal requirement

It helps decision making

It is important for setting targets

It helps in setting budgets

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a variable cost?

Raw materials for making soft drinks

Wages of head teacher

Commission paid on sales

Electricity to power a piece of production machinery

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A direct cost is one that:

is variable

is fixed

cannot be identified with a unit of production

can be identified with a unit of production

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The following information relates to a pen manufacturer:

Material costs $0.60 per pen

Direct labor costs $0.10 per pen

Fixed costs $800 per day

Current production 1500 pens per day

Selling price $1.50

What is the break - even level of output

500

None of these

1500

1000

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The following information relates to a pen manufacturer:

Material costs $0.60 per pen

Direct labor costs $0.10 per pen

Fixed costs $800 per day

Current production 1500 pens per day

Selling price $1.50

What is the margin of safety?

100

500

1000

1500

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The following information relates to a pen manufacturer:

Material costs $0.60 per pen

Direct labor costs $0.10 per pen

Fixed costs $800 per day

Current production 1500 pens per day

Selling price $1.50

What is the profit at the current level of production?

$1000

$2000

$3000

None of these

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A feature contribution costing is that?

decisions are made on the basis of profits

decisions should also take account of quantitative factors

decisions are made on the basis of contribution

decisions take account of the allocation of overheads

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