Question 11 Not yet answered Marked out of 100 Flag question Dailly Delight has the following inventory data for the month of January: January 1; Inventory 30 units @ OMR6,00 each January 8, Purchase 120 units @ OMR6.45 each January 9; Issued 75 units January 17; Purchase 60 units @ OMR6.30 each January 21, Issued 75 units January 25; Purchase 90 units OMR6.60 each Calculate the unit and value of closing stock it daily delight is following FIFO method for pricing material issue O a 150 units with OMR 972 b. 60 units with OMR 378 O c. None of the given options are correct. O d. 90 units with OMR 594 0 D Question 12 Not yet answered Marked out of 1.00 Flag question Which account is debited when there is an abnormal loss related with material cost? O a Costing profit and loss A/C O b. Factory overhead A/C c. Raw material inventory Ac Od. Work in progress No Question 13 Not yet answered Marked out of 1.00 An organisation manufactures a single product. The total variable cost of making 4,000 units is OMR 20,000. What is the variable cost per unit of the product? O a OMR 5.000 Ob. OMR 2.000 Flag question O COMR 0.200 O d. OMR 4.800 Question 14 Not yet answered Marked out of 1,00 Flag Question Following data is given Direct Expenses OMR10,000 Direct wages OMR 30,000 Direct materials OMR 10,000 Indirect wages are 50% of direct wages, Indirect materials are 50% of direct materials and indirect expenses are 100% of direct expenses. Compute the Works Cost from the above data, O a 50,000 Ob, 80,000 O c. 65,000 O d. 130,000 Question 15 Not yet answered Fixed cost per unit with the increases in output Marked out of 100 Flag question O a Not increases b. Increases O c. Not decreases O d. Decreases Question 16 Not yet answered Which account is debited when there is a new purchase of raw material to store? a Cash Alc O b. Raw material inventory Alc Oc. Purchase Alc Marked out of 100 Flag question d. Account payable A/C Question 17 Not yet answered Marked out of 1.00 Flag Question Which of the following entry is recorded when indirect materials are transferred to office dept.? a. Dr Finished Goods Stock Alc. Cr. Work-in-Progress Ale b. Dr. Material Inventory A/c Cr Office Overhead Alc O c. Dr Office & Administration O.H A/c Cr Material inventory Alc Od Dr Cost of Goods Sold A/c, Cr. Material Inventory Alc Question 18 Not yet answered Marked out of 100 Flag question Which of the following elements of cost constitute major part of the total cost of production? O a Overhead cost b. Material cost c. Labour cost Od Office salary EOQ is the Question 19 Not yet answered Marked out of 1,00 a. Economical Size of distribution Flag question O b. Economical size of purchase order O c. Economical size of production O d. Economical size of quality www.costs are partly fixed and partly variable in relation to output. Question 20 Not yet answered Marked out of 100 Flag question O a. Fixed costs O b. Semi-Variable costs O c. Marginal costs od. Fixed costs