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WorksheetsCost Accounting-CIA-2(2022)
Total questions: 20
Worksheet time: 20mins
A change in work force is known as................................
Labour Turnover
Labour strike
Stock Turnover
Direct Labour
1. Overtime is paid at
Single rate
Normal rate
Higher than normal rate
Standard rate
..................... system is suitable where the work is of repetitive nature and the methods and equipment are standardised
Time wage
piece Rate
Rowan incentive
Halsey incentive
................ incentive plan is called as 50:50 sharing plan
Halsey
Rowan
Gantt task
Barth
Wage sheet is Prepared by
Personal department
Payroll department
Cost accounting department
Production department
The wage rate system introduced by F.W Talyor is known as................
Differential piece rate system
Bonus system
Efficiency System
Premium plan
A Purchase requisition is prepared by
Store keeper
Supplier
Foreman
Purchase manager
The storekeeper should initiate a purchase requisition when stock reaches-------
Average stock level
Minimum stock level
Maximum stock level
Reorder level
An attendance register is kept under the custody of the --------------
Book keeper
Time keeper
Store keeper
Clerk
Which is not a method of job evaluation?
Ranking method
Point Rating method
Factor comparison method
Discriminating method
Under which method , the cost reflects current market conditions of materials
LIFO
FIFO
HIFO
SIFO
Orders should automatically be placed with the supplier quoting the lowest price
True
False
The cost of abnormal wastage is not added to the cost of product
True
False
The adoption of FIFO method results in a profit inflation during the period of rising prices.
True
False
The economic order quantity is the re-order quantity
True
False
The time wage system
Satisfies trade unions
Increases cost of production
Benefits the less efficient workers
Benefits the efficient workers
Labour productivity is measured by comparing
Total output with total man-hours
Actual time with standard time
Added value for the product with total wage cost
All of the above
Another term used for time and motion study is
Work study
Group study
Time keeping
Time booking
Which is not avoidable causes of Labour turnover?
Retirement
Lack of promotion
poor working conditions
Inadequate protection
Preventive costs are -------
High wages
Medical
Scrap
Wastage
