wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Estimation & Costing Quiz

Total questions: 119

Worksheet time: 1hrs 10mins

Name
Class
Date
1.

The pre determination of the cost of article is termed as

a)

Costing

b)

Accounting

2.

For filling up tenders enquiries ____________ is essential.

a)

Costing

b)

Estimation

3.

The estimates are sent to the Sales Department for fixing up the

a)

Cost

b)

Profit

4.

Cost estimates of different products in a plant is carried out by trained person called ___________

a)

Planner

b)

Designer

5.

To help the factory owner in deciding the manufacturing and selling policies is called as ___________

a)

Costing

b)

Estimation

6.

The Aim of Estimating the cost of an item is

a)

To arrange the labour

b)

To arrange for the money

7.

An accurate estimating is very necessary to compete in the market, whether manufacture of particular article will be _________

a)

profit

b)

loss

8.

Under-estimating leads to decrease the cost hence company may get __________

a)

Gain

b)

Profit

9.

Over-estimating leads to increase the cost hence tenders may get _____________

a)

cancel

b)

approved

10.

The estimator must posses one of the following quality

a)

He should have degree in Arts

b)

Should be the owner of industry

11.

The sources of errors in estimation are ___________ and __________

a)

Avoidable & unavoidable

b)

Over estimation & under estimation

12.

Costing is done __________ production

a)

Before

b)

After

13.

Preparing detailed drawing according to the requirement of production shop is called as_______

a)

Drafting time

b)

Design time

14.

The person who designing a particular product is called _______________

a)

Tool Maker

b)

Inspector

15.

The person who preparing the detail drawing of particular product is called _______________

a)

Tool Maker

b)

Draftman

16.

The time consumed to attend his personal needs are called as ____

a)

allowance

b)

Machine

c)

Labour

17.

The time counted from when the last element of operation has been completed is calles as _________

a)

Set up time

b)

Personal Time

18.

Personal allowance is the time consumed for

a)

Going to toilet

b)

Loading job on M/c

19.

The time required for setting and fixing the job is ________

a)

Setup time

b)

Tear down time

20.

Handling time + Machining time is ____________

a)

Total time

b)

Setting time

21.

Fatigue allowance comes under ___________

a)

Tear down time

b)

Experimental time

22.

Personal allowance comes under ____________

a)

Operator allowance

b)

Regrinding allowance

23.

Checking allowance comes under _____________

a)

Inspection allowance

b)

Miscellaneous allowance

24.

Personal allowance is generally ______________

a)

5 – 8%

b)

10 – 12%

25.

Fatigue allowance is generally ______________

a)

0.02

b)

0.04

26.

Tool changing and grinding allowance _____________

a)

5 – 10%

b)

15 – 20%

27.

Measurement and checking allowance is generally __________

a)

2 – 5%

b)

2 – 30%

28.

Reduction in efficiency due to headache cold and other minor illness is _______________

a)

Fatigue allowance

b)

Personal allowance

29.

Reduction in efficiency due to headache due to tiredness comes under

a)

Personal allowance

b)

Fatigue allowance

30.

Time required for sharpening tool is ___________

a)

Knife allowance

b)

Tool changing and regrinding allowance

31.

Operational time includes handling time and ____________ time.

a)

Regrinding

b)

Machining

32.

Material for punch and die

a)

Indirect material

b)

Direct material

33.

Milling machine operator is

a)

Indirect labour

b)

Direct labour

34.

Coolant required for cooling the cutter comes under

a)

Direct material

b)

Indirect material

35.

Direct labour is also called as

a)

Productive labour

b)

Overhead

36.

Expenses such as Rent, Insurance comes under ______________

a)

Prime cost

b)

Direct Expenses

37.

Wages payable to an operator per hour of labour is termed as

a)

Direct labour cost

b)

Expenses

38.

Productive labour is also called as

a)

Direct labour

b)

Indirect labour

39.

Supervisor comes under

a)

Direct labour

b)

Effective labour

40.

Sales manager comes under

a)

Productive labour

b)

Direct labour

41.

EDM operator comes under

a)

Direct labour

b)

Indirect labour

42.

Office accountant comes under

a)

Direct labour

b)

Indirect labour

43.

High-speed steel used to manufacture milling cutters is _____________

a)

Direct material

b)

Indirect material

44.

Prime cost is determined by adding _____________ cost

a)

All direct cost

b)

All indirect cost

45.

The sum of total cost and profit is called as

a)

Selling Price

b)

Office cost

46.

It is the sum of direct labour, direct material and direct expenses is called as

a)

Prime cost

b)

Preliminary cost

47.

Selling price of a product manufactured in the factory is determined by the sum of _________

a)

Fixed cost and profit

b)

Production cost and profit

48.

If the profit of a factory is added to the total cost of the product it is called

a)

Total cost

b)

Factory cost

49.

Cost of lubricant, oil, cotton waste comes under

a)

Administrative over head

b)

Factory over head

50.

Advertisement expenses comes under

a)

Sales distribution over head

b)

Office over head

51.

Indirect material + Indirect labour + Indirect expenses = ______

a)

Sales cost

b)

Product cost

52.

Direct material + Direct labour + Direct expenses = ________

a)

Prime cost

b)

Preliminary cost

53.

Factory cost = Prime cost + __________

a)

Factory over head

b)

Administrative over head

54.

Office cost = Factory cost + __________

a)

Factory over head

b)

Administrative over head

55.

Selling price = Total cost + __________

a)

Loss

b)

Profit

56.

The amount kept aside from the profit for replacing machine is

a)

Capital investment fund

b)

Depreciation fund

57.

As the machine or asset becomes old, its maintenance cost and repair charges

a)

Gradually increases

b)

Gradually decreases

58.

Any asset loosing its value because of new invention is known as

a)

Capital loss

b)

Depreciation

59.

Straight line method is to find __________

a)

Obsolescence

b)

Depreciation

60.

M/c hour rate calculation is related to _________

a)

Energy cost

b)

space cost

61.

Scrap value is used to find ___________

a)

Material cost

b)

Over head

62.

Interest on capital is related to _________

a)

Material cost

b)

Machine hour rate

63.

Replacement value is to find _________

a)

Depreciation

b)

Prime cost

64.

Productive working hour/year

a)

2500

b)

3500

65.

Annuity method is used for finding out

a)

Material cost

b)

Labour cost

66.

The rate of the total overheads to the total productive machine hours

a)

Energy cost

b)

space cost

67.

Method of calculating depreciation is ________

a)

Functional Depreciation

b)

Physical Depreciation

68.

Capital cost is charged to the same amount we get if that capital is deposited in the bank is ___________

a)

Scrap value

b)

Rate of interest

69.

oiling, cleaning, replacement of worn out parts is comes under ____________

4 lines
70.

t is charged to the same amount we get if that capital is deposited in the bank is ___________

a)

Scrap value

b)

Rate of interest

71.

oiling, cleaning, replacement of worn out parts is comes under __________

a)

Scrap value

b)

Maintenance cost

72.

Fast method but only rough estimate can be done is ___.

a)

Rough method

b)

Cost centre method

73.

Systematic method but highly time consuming is ___.

a)

Rough method

b)

Cost centre method

74.

Very very quick method scientific in nature for estimation is ____________

a)

Rough method

b)

Cost centre method

75.

In Nttf method , only ___________ drawing is enough to estimate the tool.

a)

Detail Drawing

b)

Tool design

76.

In Nttf method , only ___________ tool can be estimated.

a)

Jigs

b)

Fixtures

77.

In ___________ method estimation is directly related to costing

a)

Rough method

b)

Cost centre method

78.

Estimator should have thorough knowledge of time estimation in ___ method.

a)

Rough method

b)

Cost centre method

79.

Standard estimation sheet is used for ___

a)

Costing

b)

Estimation

80.

In ___ method the estimator need not know the tool design aspect.

a)

Rough method

b)

Cost centre method

81.

Weight of the material = Volume x Density

4 lines
82.

The charges are fixed by estimating the approximate number of hours required for the trials

a)

Inspection charges

b)

Design charges

83.

In ___________ method estimation is directly not related to costing

a)

Rough method

b)

Cost centre method

84.

The sheet which is used for estimating gauges,jigs,fixtures,press tools and moulds is ________

a)

Standard costing sheet

b)

Standard estimation sheet

85.

The charge is divided by the number of hours required for inspecting the tool completely including the time required for stage inspection

a)

Assembly charges

b)

Trial charges

86.

In ___ method the tool drawing is required.

a)

Rough

b)

NTTF

87.

The word ___ refers to a die that performs only one operation either as an independent die or as one stage In co-operated in a progressive tool.

a)

Press

b)

Basic

88.

The ___ are given for big tools, high precision tools and other extras.

a)

Fatigue allowance

b)

Personal allowance

89.

The time data for basic dies are given for a tool size up to ___ working surface.

a)

250mm

b)

300mm

90.

The sum of various basic dies in a progressive tool may be called

a)

Basic die

b)

Basic tool

91.

Punch and die will be made of ___ steel.

a)

MS

b)

Plastic

92.

Typical Allowance for a basic Die is _____________

a)

Sheet thickness very thin

b)

Handling of heavy die set

93.

Typical Allowance for a basic Tool is _____________

a)

Profiles ground or sparked die openings

b)

Very small die apertures

94.

The tool cost = ________________ time (h) x rate (Rs/h)

4 lines
95.

Tool room may assign an average value for the machining and manual operation is ____________ method

a)

Trail method

b)

Standard method

96.

Estimation of the cost of injection mould, compression mould, transfer mould or die casting dies can be done in the _________________

a)

Standard quotation sheet

b)

standard Tender form

97.

Dimension for raw material is given based on the ___________

a)

Experience

b)

Calculation

98.

If manufacturing cost is Rs 24,800 , Determine the Design cost ? Assume design cost = 10% of manufacturing cost .

a)

2480

b)

2400

99.

If manufacturing cost is Rs 24,800 , Determine the polishing charge ? Assume polishing cost = 3% of manufacturing cost .

a)

6878

b)

841

100.

If manufacturing cost is Rs 24,800 , Determine the trial charge ? Assume trail cost = 5% of manufacturing cost .

a)

1200

b)

1000

101.

The time consumed in designing the particular jig & fixture is considered as ___________ charge

a)

Inspection charge

b)

Assembly charge

102.

The time consumed for inspecting the particular jig & fixture is considered as ___________ charge

a)

Inspection charge

b)

Assembly charge

103.

The time consumed for assembling the particular jig & fixture is considered as ___________ charge

a)

Inspection charge

b)

Assembly charge

104.

The substance from which the product is made is called

a)

Mould

b)

Raw material

105.

Raw material cost is a point considered in finding ___

a)

Component cost

b)

Amortisation cost

106.

Landed cost = Market price + Taxes + Transport + Inventory

a)

Market price + Transport + Inventory – Taxes

b)

Labour cost = Shift rate / no. of components produced per hour

107.

Cost of the tool spread over no. of components is called

a)

Cleaning cost

b)

Shearing cost

108.

Density of steel 8.7gm/cc 9.2gm/cc

4 lines
109.

Which charges are charged for plating the components to protect the surface.

a)

Shearing cost

b)

Blanking cost

110.

Which cost is difficult to charge over each component, specially if the components are very small

a)

Shearing cost

b)

Cleaning cost

111.

If the cycle time of a 2-cavity inj. Mould is 20 sec. How many components will be produced in 1 hour?

a)

500 components

b)

480 components

112.

Time between the outputs of two consecutive units of production is called

a)

Shift

b)

Cycle time

113.

The cost which is incurred on shearing the sheet metal into strips

a)

Cleaning cost

b)

Shearing cost

114.

Calculate the no. of components produced in a shift of 8hrs, if a press runs at 60 strokes/min and utilizes its 40%

a)

11000 components

b)

11520 components

115.

If the shot weight is 105g and each component weighs 25g. How many cavities does the mould loaded have

a)

5 cavity

b)

4 cavity

116.

4 lakhs of components are produced in 2 yrs. Find the amortisation cost for a period of 1 yr if the mould cost is Rs20000

a)

10 paisa

b)

1 paisa

117.

Find the labour cost, if the cycle time of a 2-cavity mould is 25sec and the shift rate is Rs100

a)

40 paisa

b)

4 paisa

118.

The basic tool total hours is 150hrs and the tool cost/hr is Rs175. Find the basic tool cost

a)

Rs26250

b)

Rs262.5

119.

Surface finishing cost can be charged either on area basis or on ___ basis.

a)

Time

b)

Weight