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MCQOPTIONS
This section includes 436 Mcqs, each offering curated multiple-choice questions to sharpen your Bioinformatics knowledge and support exam preparation. Choose a topic below to get started.
| 351. |
If the budgeted indirect cost is $225 and the budgeted cost allocation base is $750 per hour, then the annual indirect cost (budgeted) would be |
| A. | $168,750 |
| B. | $148,570 |
| C. | $186,750 |
| D. | $125,680 |
| Answer» B. $148,570 | |
| 352. |
A document which contains information about the materials of specific product, in specific department comes under |
| A. | costing method |
| B. | selling method |
| C. | material acquisition method |
| D. | none of above |
| Answer» D. none of above | |
| 353. |
If the budgeted annual manufacturing indirect cost is $2250000 and the cost allocation base is 2800 labor hour, then budgeted manufacturing overhead rate will be |
| A. | $803.571 per labor hour |
| B. | $805 per labor hour |
| C. | $905 per labor hour |
| D. | $802 per labor hour |
| Answer» B. $805 per labor hour | |
| 354. |
In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as |
| A. | over allocated budget |
| B. | under allocated budget |
| C. | under allocated indirect cost |
| D. | over allocated direct cost |
| Answer» B. under allocated budget | |
| 355. |
The procedure of assigning the direct cost to any cost abject is classified as |
| A. | sales allocation |
| B. | cost tracing |
| C. | cost allocation |
| D. | sales tracing |
| Answer» D. sales tracing | |
| 356. |
If the budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then the budgeted indirect cost rate would be |
| A. | 69.72% |
| B. | 79.72% |
| C. | 99.75% |
| D. | 89.72% |
| Answer» E. | |
| 357. |
The costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as |
| A. | stock-out costs |
| B. | ordering costs |
| C. | carrying costs |
| D. | purchasing costs |
| Answer» C. carrying costs | |
| 358. |
The purchase order lead time is multiplied to the number of units sold per unit of time, to calculate |
| A. | carrying costs |
| B. | relevant total costs |
| C. | economic order quantity |
| D. | reorder point |
| Answer» E. | |
| 359. |
A push through system, according to which goods are manufactured for finished inventory solely, on the basis of forecasted demand can be classified as |
| A. | in-time production |
| B. | materials requirement planning |
| C. | on-time production |
| D. | pull strategy of production |
| Answer» C. on-time production | |
| 360. |
The reorder point is divided by number of sold units for per unit of time to calculate |
| A. | relevant carrying cost |
| B. | relevant ordering cost |
| C. | purchase order lease time |
| D. | number of purchase orders |
| Answer» D. number of purchase orders | |
| 361. |
In an accounting system, the document which supports journal entries is classified as |
| A. | cost document |
| B. | priced document |
| C. | source document |
| D. | direct document |
| Answer» D. direct document | |
| 362. |
If the budgeted total direct labor hours are 3800 and budgeted direct labor cost is $480000, then the budgeted direct labor cost rate will be |
| A. | $126.32 per labor hour |
| B. | $128.32 per labor hour |
| C. | $130 per labor hour |
| D. | $132 per labor hour |
| Answer» B. $128.32 per labor hour | |
| 363. |
The profit forgone by capital investment in inventory rather than investment of capital to somewhere else is classified as |
| A. | relevant purchase order costs |
| B. | relevant inventory carrying costs |
| C. | irrelevant inventory carrying costs |
| D. | relevant opportunity cost of capital |
| Answer» E. | |
| 364. |
If the relevant opportunity cost of capital is $2950 and the relevant carrying cost of inventory is $6700, then the relevant incremental cost will be |
| A. | $9,650 |
| B. | $2,350 |
| C. | $3,750 |
| D. | $2,750 |
| Answer» D. $2,750 | |
| 365. |
The stage in manufacturing cycle at which journal entries are made in system of accountancy is known as |
| A. | chaining point |
| B. | recording point |
| C. | lead point |
| D. | trigger point |
| Answer» E. | |
| 366. |
If an actual indirect cost incur is $35000 and the indirect cost allocated is $43000, then the under allocated indirect cost will be |
| A. | $78,000 |
| B. | −$78000 |
| C. | −$8000 |
| D. | $8,000 |
| Answer» D. $8,000 | |
| 367. |
The term which describes the assigning of indirect cost, to any cost object is classified as |
| A. | cost allocation |
| B. | sales tracing |
| C. | sales allocation |
| D. | cost tracing |
| Answer» B. sales tracing | |
| 368. |
If the budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be |
| A. | 112.34 per piece |
| B. | 113.34 per piece |
| C. | 111.34 per piece |
| D. | 110.34 per piece |
| Answer» C. 111.34 per piece | |
| 369. |
If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be |
| A. | 1200 units |
| B. | 990 units |
| C. | 1100 units |
| D. | 1000 units |
| Answer» D. 1000 units | |
| 370. |
An ability of an accounting system, to point out the use of resources in every step of production process is called |
| A. | back-flush trails |
| B. | audit trails |
| C. | trigger trails |
| D. | lead manufacturing trails |
| Answer» C. trigger trails | |
| 371. |
In process and job costing system, the normal spoilage cost is considered as |
| A. | conversion costs |
| B. | sunk costs |
| C. | inventoriable costs |
| D. | non inventoriable costs |
| Answer» D. non inventoriable costs | |
| 372. |
The second step in processing costing system is to |
| A. | summarize total costs |
| B. | compute cost for each equivalent unit |
| C. | summarize flow of output |
| D. | compute output in units |
| Answer» E. | |
| 373. |
The forth step in process costing system is to |
| A. | summarize total costs |
| B. | compute cost for each equivalent unit |
| C. | summarize flow of output |
| D. | compute output in units |
| Answer» C. summarize flow of output | |
| 374. |
If the transferred out total cost is $1850000 and the number of good units (produced), then the cost per good unit transferred out and completed can be |
| A. | 245.1724 |
| B. | 255.1724 |
| C. | 278.1724 |
| D. | 268.1724 |
| Answer» C. 278.1724 | |
| 375. |
If the relevant incremental costs are $5000 and the relevant opportunity cost of invested capital is $2500, then the relevant inventory carrying costs would be |
| A. | $7,500 |
| B. | $7,000 |
| C. | $6,500 |
| D. | $6,000 |
| Answer» B. $7,000 | |
| 376. |
If an allocated indirect cost is $1500 and the actual incurred indirect cost is $1200, then this is classified as |
| A. | applied indirect cost |
| B. | applied direct cost |
| C. | incurred indirect cost |
| D. | over allocated indirect cost |
| Answer» E. | |
| 377. |
The situation in which the cost object has any job, customer or product is known as |
| A. | cost application base |
| B. | sale application base |
| C. | price application base |
| D. | direct application base |
| Answer» B. sale application base | |
| 378. |
The systematic flow of services, goods or information from the buying material for product delivery to the customers is known as |
| A. | supply chain |
| B. | value chain |
| C. | material flow chain |
| D. | manufacturing flow chain |
| Answer» B. value chain | |
| 379. |
The dimensional analysis of cost includes |
| A. | horizontally across dimension |
| B. | horizontally upward dimension |
| C. | vertically upward dimension |
| D. | both a and c |
| Answer» E. | |
| 380. |
The process of making long term decisions, for capital investment in the projects is called |
| A. | lead budgeting |
| B. | lean budgeting |
| C. | capital budgeting |
| D. | relevant budgeting |
| Answer» D. relevant budgeting | |
| 381. |
The rate of return, which is made up of risk free and business risk element is known as |
| A. | nominal rate of return |
| B. | accrual accounting rate of return |
| C. | real rate of return |
| D. | required rate of return |
| Answer» D. required rate of return | |
| 382. |
The payback period is multiplied for constant increase in yearly future cash flows to calculate |
| A. | cash value of money |
| B. | net initial investment |
| C. | net future value |
| D. | time value of money |
| Answer» C. net future value | |
| 383. |
The capital budgeting method to analyze information of financials include |
| A. | internal rate of return |
| B. | accrual accounting rate of return |
| C. | net present value |
| D. | all of above |
| Answer» E. | |
| 384. |
The working capital cash outflow, cash outflow to buy machine and cash inflow from machine are the examples of |
| A. | cash flow from operations |
| B. | terminal disposal of investment |
| C. | net initial investment |
| D. | average return on investment |
| Answer» D. average return on investment | |
| 385. |
According to net present value, the projects that would be acceptable must have a |
| A. | negative net present value |
| B. | zero net present value |
| C. | positive net present value |
| D. | both b and c |
| Answer» E. | |
| 386. |
The cash flows method, used by net present value method and internal rate of return are |
| A. | vertical cash flows |
| B. | discounted cash flows |
| C. | lean cash flows |
| D. | future cash flows |
| Answer» C. lean cash flows | |
| 387. |
If tax operating income is $885000 per year and the net initial investment is $35750000 then increase in average is |
| A. | 0.475% per year |
| B. | 4.475% per year |
| C. | 3.475% per year |
| D. | 2.475% per year |
| Answer» E. | |
| 388. |
The decrease in purchasing power of any monetary unit such as euro, dollars etc. is classified as |
| A. | net investment parity |
| B. | inflation |
| C. | purchasing parity |
| D. | buying parity |
| Answer» C. purchasing parity | |
| 389. |
Annual earned income is divided from a project by capital invested to calculate |
| A. | accrual accounting rate of return |
| B. | returned working capital |
| C. | increase in expected average annual |
| D. | decrease in expected average annual |
| Answer» B. returned working capital | |
| 390. |
The project's expected monetary loss or gain by discounting all cash outflows and inflows, using required rate of return is classified as |
| A. | net present value |
| B. | net future value |
| C. | net discounted value |
| D. | net recorded cash value |
| Answer» B. net future value | |
| 391. |
The rate of required return to cover the risk of investment, in absence of inflation is classified as |
| A. | real rate of return |
| B. | required rate of return |
| C. | nominal rate of return |
| D. | none of above |
| Answer» B. required rate of return | |
| 392. |
The horizontally across dimension of cost analysis is also called |
| A. | project dimension |
| B. | accounting-period dimension |
| C. | back-flush accounting dimension |
| D. | lean accounting dimension |
| Answer» B. accounting-period dimension | |
| 393. |
The sum of returned working capital and net initial investment is divided by 2 to calculate |
| A. | increase in operating income |
| B. | average investment over five years |
| C. | average capital invested |
| D. | average rate of return |
| Answer» C. average capital invested | |
| 394. |
The product which requires low amount of resources, but incur high per unit cost is classified as |
| A. | expected under cost |
| B. | expected over cost |
| C. | product under costing |
| D. | product over costing |
| Answer» E. | |
| 395. |
In activity based costing system, the description of activity can be classified as |
| A. | activity list |
| B. | activity dictionary |
| C. | active purpose |
| D. | both a and b |
| Answer» E. | |
| 396. |
The factors that accelerate the process of refining a costing system include |
| A. | increase in product diversity |
| B. | increase in indirect costs |
| C. | product market competitions |
| D. | all of above |
| Answer» E. | |
| 397. |
The broad's average use to assign the cost of revenue to cost objects will be classified as |
| A. | refined costing system |
| B. | refined selling system |
| C. | undefined costing |
| D. | defined selling system |
| Answer» B. refined selling system | |
| 398. |
The costs of all the activities for a group of products, rather than individual product can be classified as |
| A. | activity level costs |
| B. | input level costs |
| C. | batch level costs |
| D. | output level costs |
| Answer» D. output level costs | |
| 399. |
In the activity based costing method implementation, the indirect costs are allocated by using the |
| A. | no cost pool |
| B. | One or two cost pools |
| C. | sustained tracing |
| D. | support tracing |
| Answer» C. sustained tracing | |
| 400. |
The costing system, in which individual activities are identified as the cost object, is considered as |
| A. | manufactured costing |
| B. | activity based costing |
| C. | allocation costing |
| D. | base costing |
| Answer» C. allocation costing | |