Costing and Inventory Control Quiz

Q2. A business plan in life-cycle of a new product is? Strategic plan (vòng đời dài hạn mang tính chiến lược)

Q5. A company makes one delivery per week to all of its customers. Cost of these deliveries is: A selling and distribution cost

Q6. Prime cost is: The total of direct costs (direct material+direct labor+direct expenses)

Q7. A cost which contains both fixed and variable components and partly affected by changes in the level of activities is known as A semi- variable cost

Q8. Which of the following costs are fixed per unit but change in total, as production level changes? Variable cost

Q9. If an assembly line supervisor is paid a salary of $100 each which and additional $0.10 for every unit of production made in the week, this wage could be described as A semi-variable cost

Q10. What is the 'lead time' in inventory control? A. The time between placing an order with a supplier, and the inventory becoming available for use

Q11.Which of the following formulas describe "reorder level'? C. Maximum usage x Maximum lead time

Q12. Which of the following is the best description of "EOQ"? D. The economic order quantity (EOQ) is the order quantity which minimises inventory costs

Q13. Which formula belows is used for "Time work" wages calculation? A. Wages = Hours worked × Rate of pay per hour