MGT402 Final Term Past Paper 2010 Session 2

Rana Abubakar Khan

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JOIN FB GROUP FOR VU HELP · FINALTERM EXAMINATION · Spring 2010 · MGT402- Cost & Management Accounting (Session - 2) · Time: 90 min Marks: 69 Student Info · StudentID: · Center: · OPKST · ExamDate: · 10 Aug 2010

Q No.

Total

Q1. BDH produced 30,500 units of Kisty (a product). Each unit of Kisty takes two units of component L. Component L is budgeted to cost Rs. 12 per unit. Current inventory of L is 4,000 units. BDH wants 6,000 units of L on hand at the end of the next year. How much will the direct materials budget show as the cost of materials to be purchased? (1 marks)

1. Rs. 756,000
2. Rs. 390,000
3. Rs. 684,000
4. Rs. 330,000

Q2. Period costs are: (1 marks)

1. Expensed when the product is sold
2. Included in the cost of goods sold
3. Related to specific period
4. Not expensed

Q3. In a job order cost system, the use of direct materials would be recorded as a debit to: (1 marks)

1. Finished Goods inventory
2. Manufacturing Overhead
3. Raw Materials inventory
4. Work in Process inventory

Q4. is/are reported in production cost report? (1 marks)

1. The costs charged to the department
2. How the costs were assigned to the output?
3. The equivalent units of production by the department
4. All of the given options

Q5. is the best define a by-product? (1 marks)

1. A by-product is a product arising from a process where the wastage rate is higher than a defined level
2. A by-product is a product arising from a process where the sales value is insignificant by comparison with that of the main product or products
3. A by-product is a product arising from a process where the wastage rate is unpredictable
4. A by-product is a product arising from a process where the sales value is significant by comparison with that of the main product or products