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Cost Accounting-CIA-2(2022)

Total questions: 20

Worksheet time: 20mins

Name
Class
Date
1.

A change in work force is known as................................

a)

Labour Turnover

b)

Labour strike

c)

Stock Turnover

d)

Direct Labour

2.

1. Overtime is paid at

a)

Single rate

b)

Normal rate

c)

Higher than normal rate

d)

Standard rate

3.

..................... system is suitable where the work is of repetitive nature and the methods and equipment are standardised

a)

Time wage

b)

piece Rate

c)

Rowan incentive

d)

Halsey incentive

4.

................ incentive plan is called as 50:50 sharing plan

a)

Halsey

b)

Rowan

c)

Gantt task

d)

Barth

5.

Wage sheet is Prepared by

a)

Personal department

b)

Payroll department

c)

Cost accounting department

d)

Production department

6.

The wage rate system introduced by F.W Talyor is known as................

a)

Differential piece rate system

b)

Bonus system

c)

Efficiency System

d)

Premium plan

7.

A Purchase requisition is prepared by

a)

Store keeper

b)

Supplier

c)

Foreman

d)

Purchase manager

8.

The storekeeper should initiate a purchase requisition when stock reaches-------

a)

Average stock level

b)

Minimum stock level

c)

Maximum stock level

d)

Reorder level

9.

An attendance register is kept under the custody of the --------------

a)

Book keeper

b)

Time keeper

c)

Store keeper

d)

Clerk

10.

Which is not a method of job evaluation?

a)

Ranking method

b)

Point Rating method

c)

Factor comparison method

d)

Discriminating method

11.

Under which method , the cost reflects current market conditions of materials

a)

LIFO

b)

FIFO

c)

HIFO

d)

SIFO

12.

Orders should automatically be placed with the supplier quoting the lowest price

a)

True

b)

False

13.

The cost of abnormal wastage is not added to the cost of product

a)

True

b)

False

14.

The adoption of FIFO method results in a profit inflation during the period of rising prices.

a)

True

b)

False

15.

The economic order quantity is the re-order quantity

a)

True

b)

False

16.

The time wage system

a)

Satisfies trade unions

b)

Increases cost of production

c)

Benefits the less efficient workers

d)

Benefits the efficient workers

17.

Labour productivity is measured by comparing

a)

Total output with total man-hours

b)

Actual time with standard time

c)

Added value for the product with total wage cost

d)

All of the above

18.

Another term used for time and motion study is

a)

Work study

b)

Group study

c)

Time keeping

d)

Time booking

19.

Which is not avoidable causes of Labour turnover?

a)

Retirement

b)

Lack of promotion

c)

poor working conditions

d)

Inadequate protection

20.

Preventive costs are -------

a)

High wages

b)

Medical

c)

Scrap

d)

Wastage