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mcq 1. A firm sells base ball for Tk. 14.00 each. The variable cost for each unit is Tk. 8.00. The contribution margin per unit
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1. A firm sells base ball for Tk. 14.00 each. The variable cost for each unit is Tk. 8.00. The contribution margin per unit is A. Tk. 6.00 B. Tk. 12.00 C. C. Tk. 14.00 D. Tk. 8.00 2. Company' A,s fixed costs were Tk. 42, 000, as variable costs were Tk. 24,000.00 and its sales were Tk. 80,000.00 for the sale of 8,000 units. The company's break-even point in units is A. 8,000. B. 5,000 C. 6,000 D. 7,000 3. Karim sells a product for Tk. 6.25. The variable costs are Tk. 3.75. Karim's break-even units are 35,000 units. What is the amount of fixed costs. A. Tk. 27,000.00 B. Tk. 35,000.00 C. Tk. 131,000.00 D. Tk. 104,750 4. The current sales price is Tk. 25.00 per unit and the current variable cost is Tk. 17.00 per unit. Fixed costs are Tk. 40,000.00. If the sales price is increased by Tk. 2.00 and all other costs remain unchanged, the break-even point in units will A. Increased by 1,000 units B. Decreased by 1,000 units C. Decrease by 2,000 units D. Decrease by 119 units (Rounded to nearest unit) 5. Company A's fixed costs were Tk. 45,000.00, its variable costs were Tk. 24,000.00 and its sales were Tk. 80,000.00. The company's break-even point in sales value is A. Tk. 33,000.00 B.Tk. 64,286.00 C. Tk. 79,000.00 D. Tk. 88,000.00 6. Currently a company has fixed costs of Tk. 32,500.00, a contribution ratio of 65% and is selling its product for Tk. 12.00 per unit. If the sales price per unit is increased by Tk. 4.00, how much less will the break-even point in sales be when compared to the current condition A. Tk. 14,411.00 B Tk. 13,414.00 C. Tk. 17,500.00 D. Tk. 5, 932.00 7. On a cost-volume profit chart(break-even graph), the total fixed costs are A. The point where the sales line intersects the cost line (Y) B. The point where the sales line intersects the total cost line C. The point where the total cost line intersects the volume line(x) D. The point where the total cost line intersects the volume line (X) 8. When using conventional cost-volume-profit analysis, some assumptions about costs and sales prices are made. Which one of the following is not one of those assumptions A. The costs can be expressed as straight lines in a break-even graph. B. The actual variable cost per unit must vary over the production range C. The sales price will remain unchanged per unit D. Fixed costs will decrease per unit. 9. If the margin of safety is 40% of sales, which are Tk. 400,000.00 the break-even point A. Is greater than Tk. 400,000.00 B. Is Tk. 160,000.00 C. Is Tk. 240,000.00 D. is less than Tk. 160,000.00 40 Loin det 9. If the margin of safety is 40% of sales, which are Tk. 400,000.00 the break-even point A. Is greater than Tk. 400,000.00 B. Is Tk. 160,000.00 C. Is Tk. 240,000.00 D. Is less than Tk. 160,000.00 10. Let BES=Break-even sales, R=Revenue per unit, F=Fixed Costs, V=variable costs per unit, CMR= Contribution ratio, CM= Contribution margin per unit, SxR= Taka Sales, S=Sales in Unit (SxR)- (F/CMR) is the A. Break-even point in units B. Break-even point in Taka. C. Margin of safety D. Sales mix composite 11. Which of the following manufacturers is most likely to use a job order accounting system A. A brewery B. A ship builder C. An oil refinery D. A sugar refinery 12. In a job order cost accounting system, which account would be debited in recording a purchase invoice for raw materials A. Raw materials inventory B. Goods in process inventory C. Factory over head D. Finished goods inventory 13. In a job order costing system, which account would be debited in recording a material requisition for direct material A. Raw materials inventory B. Factory overhead C. Raw materials purchases D. Goods in process inventory 14. The predetermined overhead rate is Tk. 6.10 per direct labour hour. Job 213 required 210 direct labour hours of which 150 hours were incurred during the current accounting period. How much overhead should be applied to Job 213 during the current accounting period A. Tk. 366.00 B. Tk. 915.00 C. Tk. 1,218.00 D. Tk. 1,281.00 15. Direct materials used : Tk. 20,000.00 Factory overhead : Tk. 40,000.00 Beginning goods in process : Tk. 0.00 Ending goods in process: Tk. 12,000.00 Cost of goods manufactured : Tk. 65,000.00 What was the amount of direct labour A. Tk. 17,000.00 15. Direct materials used : Tk. 20,000.00 Factory overhead : Tk. 40,000.00 Beginning goods in process : Tk. 0.00 Ending goods in process : Tk. 12,000.00 Cost of goods manufactured : Tk. 65,000.00 What was the amount of direct labour A. Tk. 17,000.00 B. Tk. 77,000.00 C. Tk. 5,000.00 D. Tk. 48,000.00 16. Job #21 was unfinished at the end of the accounting period. The total cost assigned to the job is Tk. 12,000.00 of which Tk. 3,000.00 is direct material. Factory overhead is allocated to the goods in process at 150% of direct labour cost. What was the amount of direct labour charged to Job # 21 A. Tk. 9,000.00 B Tk. 3,600.00 C. Tk. 4,000.00 D. Tk. 3,000.00 17. The production costs to produce one unit of finished goods was Tk. 45.00. Direct materials were 1/3 of the total cost, and direct labour was 40% of the combined total of direct labour and direct materials. The cost of direct materials, direct labour and factory overhead was A. Tk. 15.00, Tk. 18.00 and Tk. 12.00 respectively B. Tk. 15.00, Tk. 16.00 and Tk. 14.00 respectively C. Tk. 15.00, Tk. 18.00 and Tk. 12.00 respectively D. Tk. 15.00, Tk. 10.00 and Tk. 20.00 respectively 18. The over applied balance of the factory overhead is Tk. 36,000.00. The ending balance of goods in process inventory , finished goods inventory and cost of goods sold accounts are Tk. 12,000.00, Tk. 8,000.00 and Tk. 60,000.00 respectively. On the basis of ending balances , how much of the over applied balance should be allocated to each accounts A. Tk. 5,400.00, Tk. 3,600.00, Tk. 27,000 B. Tk. 12,000.00, Tk. 12,000.00, Tk. 12,000.00 C. Tk. 12,000.00, TK.4,000.00, TK.20,000.00 D. Tk.3,600.00, Tk. 5,400.00, Tk. 24,000.00 19. Which of the following is the correct description of the break-even point? A. Where total revenue equals total fixed costs B. Where total revenue equals total fixed and variable cost C. Where total revenue equals total variable costs D. Where total revenue equals total contribution 20. Data from a company's last period of operations shows sales of 2,000 units, total contribution margin of Tk. 50,000.00 and income after subtracting fized cost of Tk. 30,000.00 is Tk. 20,000.00. Should the company experience sales of 2,400 units (within relevant range, no sales price increase), net income will be A. Tk. 40,000.00 B. Tk. 30,000.00 C. Tk. 10,000.00 D. Tk. 20,000.00 1. A firm sells base ball for Tk. 14.00 each. The variable cost for each unit is Tk. 8.00. The contribution margin per unit is A. Tk. 6.00 B. Tk. 12.00 C. C. Tk. 14.00 D. Tk. 8.00 2. Company' A,s fixed costs were Tk. 42, 000, as variable costs were Tk. 24,000.00 and its sales were Tk. 80,000.00 for the sale of 8,000 units. The company's break-even point in units is A. 8,000. B. 5,000 C. 6,000 D. 7,000 3. Karim sells a product for Tk. 6.25. The variable costs are Tk. 3.75. Karim's break-even units are 35,000 units. What is the amount of fixed costs. A. Tk. 27,000.00 B. Tk. 35,000.00 C. Tk. 131,000.00 D. Tk. 104,750 4. The current sales price is Tk. 25.00 per unit and the current variable cost is Tk. 17.00 per unit. Fixed costs are Tk. 40,000.00. If the sales price is increased by Tk. 2.00 and all other costs remain unchanged, the break-even point in units will A. Increased by 1,000 units B. Decreased by 1,000 units C. Decrease by 2,000 units D. Decrease by 119 units (Rounded to nearest unit) 5. Company A's fixed costs were Tk. 45,000.00, its variable costs were Tk. 24,000.00 and its sales were Tk. 80,000.00. The company's break-even point in sales value is A. Tk. 33,000.00 B.Tk. 64,286.00 C. Tk. 79,000.00 D. Tk. 88,000.00 6. Currently a company has fixed costs of Tk. 32,500.00, a contribution ratio of 65% and is selling its product for Tk. 12.00 per unit. If the sales price per unit is increased by Tk. 4.00, how much less will the break-even point in sales be when compared to the current condition A. Tk. 14,411.00 B Tk. 13,414.00 C. Tk. 17,500.00 D. Tk. 5, 932.00 7. On a cost-volume profit chart(break-even graph), the total fixed costs are A. The point where the sales line intersects the cost line (Y) B. The point where the sales line intersects the total cost line C. The point where the total cost line intersects the volume line(x) D. The point where the total cost line intersects the volume line (X) 8. When using conventional cost-volume-profit analysis, some assumptions about costs and sales prices are made. Which one of the following is not one of those assumptions A. The costs can be expressed as straight lines in a break-even graph. B. The actual variable cost per unit must vary over the production range C. The sales price will remain unchanged per unit D. Fixed costs will decrease per unit. 9. If the margin of safety is 40% of sales, which are Tk. 400,000.00 the break-even point A. Is greater than Tk. 400,000.00 B. Is Tk. 160,000.00 C. Is Tk. 240,000.00 D. is less than Tk. 160,000.00 40 Loin det 9. If the margin of safety is 40% of sales, which are Tk. 400,000.00 the break-even point A. Is greater than Tk. 400,000.00 B. Is Tk. 160,000.00 C. Is Tk. 240,000.00 D. Is less than Tk. 160,000.00 10. Let BES=Break-even sales, R=Revenue per unit, F=Fixed Costs, V=variable costs per unit, CMR= Contribution ratio, CM= Contribution margin per unit, SxR= Taka Sales, S=Sales in Unit (SxR)- (F/CMR) is the A. Break-even point in units B. Break-even point in Taka. C. Margin of safety D. Sales mix composite 11. Which of the following manufacturers is most likely to use a job order accounting system A. A brewery B. A ship builder C. An oil refinery D. A sugar refinery 12. In a job order cost accounting system, which account would be debited in recording a purchase invoice for raw materials A. Raw materials inventory B. Goods in process inventory C. Factory over head D. Finished goods inventory 13. In a job order costing system, which account would be debited in recording a material requisition for direct material A. Raw materials inventory B. Factory overhead C. Raw materials purchases D. Goods in process inventory 14. The predetermined overhead rate is Tk. 6.10 per direct labour hour. Job 213 required 210 direct labour hours of which 150 hours were incurred during the current accounting period. How much overhead should be applied to Job 213 during the current accounting period A. Tk. 366.00 B. Tk. 915.00 C. Tk. 1,218.00 D. Tk. 1,281.00 15. Direct materials used : Tk. 20,000.00 Factory overhead : Tk. 40,000.00 Beginning goods in process : Tk. 0.00 Ending goods in process: Tk. 12,000.00 Cost of goods manufactured : Tk. 65,000.00 What was the amount of direct labour A. Tk. 17,000.00 15. Direct materials used : Tk. 20,000.00 Factory overhead : Tk. 40,000.00 Beginning goods in process : Tk. 0.00 Ending goods in process : Tk. 12,000.00 Cost of goods manufactured : Tk. 65,000.00 What was the amount of direct labour A. Tk. 17,000.00 B. Tk. 77,000.00 C. Tk. 5,000.00 D. Tk. 48,000.00 16. Job #21 was unfinished at the end of the accounting period. The total cost assigned to the job is Tk. 12,000.00 of which Tk. 3,000.00 is direct material. Factory overhead is allocated to the goods in process at 150% of direct labour cost. What was the amount of direct labour charged to Job # 21 A. Tk. 9,000.00 B Tk. 3,600.00 C. Tk. 4,000.00 D. Tk. 3,000.00 17. The production costs to produce one unit of finished goods was Tk. 45.00. Direct materials were 1/3 of the total cost, and direct labour was 40% of the combined total of direct labour and direct materials. The cost of direct materials, direct labour and factory overhead was A. Tk. 15.00, Tk. 18.00 and Tk. 12.00 respectively B. Tk. 15.00, Tk. 16.00 and Tk. 14.00 respectively C. Tk. 15.00, Tk. 18.00 and Tk. 12.00 respectively D. Tk. 15.00, Tk. 10.00 and Tk. 20.00 respectively 18. The over applied balance of the factory overhead is Tk. 36,000.00. The ending balance of goods in process inventory , finished goods inventory and cost of goods sold accounts are Tk. 12,000.00, Tk. 8,000.00 and Tk. 60,000.00 respectively. On the basis of ending balances , how much of the over applied balance should be allocated to each accounts A. Tk. 5,400.00, Tk. 3,600.00, Tk. 27,000 B. Tk. 12,000.00, Tk. 12,000.00, Tk. 12,000.00 C. Tk. 12,000.00, TK.4,000.00, TK.20,000.00 D. Tk.3,600.00, Tk. 5,400.00, Tk. 24,000.00 19. Which of the following is the correct description of the break-even point? A. Where total revenue equals total fixed costs B. Where total revenue equals total fixed and variable cost C. Where total revenue equals total variable costs D. Where total revenue equals total contribution 20. Data from a company's last period of operations shows sales of 2,000 units, total contribution margin of Tk. 50,000.00 and income after subtracting fized cost of Tk. 30,000.00 is Tk. 20,000.00. Should the company experience sales of 2,400 units (within relevant range, no sales price increase), net income will be A. Tk. 40,000.00 B. Tk. 30,000.00 C. Tk. 10,000.00 D. Tk. 20,000.00
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