My Today Paper 12.30 mc110200779
1)Sales =700000 Markup=25% of cos find
cost of goods sold & gross profit margin ratio
2)The XYZ Manufacturing Company estimates its production requirements to be
30,000 units for Jan, 38,000 units for Feb and 41,000 units for
March. It takes 3 direct labor hours at a rate of Rs. 3 per hour to complete
one unit.
Prepare direct Labor budget cost for the last quarter of the year.
3)The following information is available for Atlas
Corporation to prepare a cash
budget for the month of September:
· Cash on hand beginning of September Rs. 16,000
· Expected receipts in September Rs. 272,000
· Sales salaries paid Rs. 62,000
· Material purchases (all in cash) Rs. 190,000
· Depreciation Rs. 44,000
budget for the month of September:
· Cash on hand beginning of September Rs. 16,000
· Expected receipts in September Rs. 272,000
· Sales salaries paid Rs. 62,000
· Material purchases (all in cash) Rs. 190,000
· Depreciation Rs. 44,000
Required: Calculate ending cash balance in September. Also
show complete
working.
working.
MCQS
Company A's fixed costs were Rs. 42,000, its variable costs were Rs. 24,000
and its sales were Rs. 80,000 (8,000 units). What is the company's break-even
point in units?
► 1,400 units
►
5,000 units
► 6,000 units
► 7,000 units
► 6,000 units
► 7,000 units
Which of the following is TRUE regarding the use of blanket
rate?
► The
use of a single blanket rate makes the apportionmentof overhead costs
unnecessary
► The
use of a single blanket rate makes the apportionment of overhead
costs necessary
► The use of a single blanket rate makes the apportionment of overhead
costs uniform
► None of the given options
costs necessary
► The use of a single blanket rate makes the apportionment of overhead
costs uniform
► None of the given options
Net sales = Sales less:
► Sales returns
► Sales discounts
► Sales returns & allowances
► Sales returns & allowances and sales discounts
► Sales returns
► Sales discounts
► Sales returns & allowances
► Sales returns & allowances and sales discounts
Which of the following statement is TRUE about historical
cost?
► It is always relevant to decision making
► It is always irrelevant to decision making
► It is always an opportunity cost
► It is always realizable value
► It is always relevant to decision making
► It is always irrelevant to decision making
► It is always an opportunity cost
► It is always realizable value
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