Highly appreciated that you give calculation and explanation for all the answers!

I. Standard Direct materials 7 lbs. @ $8 per lb.

Actuals are 54,400lbs. @ $8.20 per lb.

Direct labor3 hrs. @ $15 per hr.

22,800hrs. @ $15.50 per hr.

Overhead 3 hrs. @ $11 per hr.$260,

700 Units made 7,700

Figure the immediate work rate difference and the immediate work proficiency change.

II. Which of coming up next isn't a segment of Trial Balance

(a) It is a summary of charge and credit changes which are isolated from various record accounts;

(b) It doesn't exhibit arithmetical precision which can be directed by audit;

(c) It isn't a record. It is only a clarification of record;

(d) All the trades are basically recorded in this book, accordingly it is the fundamental book of entry.

III. Which of coming up next is/are the crucial features of a Joint Venture

(a) The advantage or setback on joint undertaking is split between the co-venturers in the agreed extent;

(b) The co-venturers could possibly contribute initial capital;

(c) The JV is crumbled once the justification the business is done;

(d) All of the previously mentioned.

IV. The after account has a credit balance

(a) Plant and Equipment A/c

(b) Purchase Returns A/c

(c) Purchase A/c

(d) None of the previously mentioned

V. When Sales = '3,60,000, Purchase = ' 3,20,000, Opening Stock = '68,000 and speed of the Gross Profit is 20% on cost, the Closing Stock would be

(a) '1,00,000

(b) '44,000

(c) '46,000

(d) None of the previously mentioned

VI. Which of coming up next is certainly not a Fundamental Accounting Assumptions?

(a) Conservatism

(b) Going Concern

(c) Consistency

(d) Accrual

VII. Name the book where, areas are recorded dependent on charge notes gave.

(a) Sales book

(b) Purchase Book

(c) Sales Return Book

(d) Purchase Return Book

VIII. Name the rule drew in with the course of action of Assets as Fixed and Current

(a) Cost Principle

(b) Going Concern Principle

(c) Matching Principle

(d) Prudence Principle

IX. If a fixed whole is eliminated on the principle day of each extended length of timetable year by an assistant in affiliation firm, by then for what period the interest on the total amount of drawings will be resolved?

(a) 4.5 months

(b) 5.5 months

(c) 6.5 months

(d) 7.5 months

X. Del credere commission is allowed to agent

(a) for bringing in cash bargains

(b) for making credit bargains

(c) for making extra arrangements

(d) for undertaking danger of dreadful commitments

XI. The individual in whose favor the bill is embraced is known as .

(a) Endorsee

(b) Drawee

(c) Drawer

(d) None of the previously mentioned