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Lecturer Commerce Solved Past Paper MCQs Online Test No. 42

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Note:-

There will be 25 multiple choice question in the test.
Answer of the questions will change randomly each time you start this test.
Practice this test at least 5 times if you want to secure High Marks.
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Test Instructions:-
Test Name	Lecturer Commerce
Subject	Commerce Test 42
Test Type	MCQs
Total Questions	25
Total Time	20 Minutes
Total Marks	100

You have 20 minutes to pass to the quiz.

Lecturer Commerce Online Test No. 42

1 / 25

Salary of a foreman should be classified as a:

Fixed overhead

Variable overhead

Semi-fixed or semi variable overhead

None of the above

2 / 25

Which of the following is a scientific and accurate method of absorption of factory overheads:

Percentage on prime cost

Machine hour rate

Percentage on direct labour cost

All of these

3 / 25

Administration overheads are recovered as a percentage of:

Direct materials

Prime cost

Direct Wages

Works cost

4 / 25

What is the basis for distribution of indirect material cost to various departments?

Direct allocation

Cost of direct materials consumed

Machine hours worked

None of these

5 / 25

Job costing is used in:

Repair shops

Furniture making

Printing presses

Automobile garages

All of these

6 / 25

Most of the expenses are direct in :

Job costing

Batch costing

All of these

7 / 25

The most suitable cost system where the products differ in type of materials used and work performed is:

Job costing

Operating costing

Process costing

None of these

8 / 25

Factory overhead should be absorbed on the basis of:

Relationship to cost incurred

Direct labour cost

Direct labour hours

Machine hours

9 / 25

Director's remuneration and expenses form a part of:

Production overhead

Selling overhead

Administration overhead

Distribution overhead

10 / 25

Packing cost is a:

Production cost

Distribution cost

Selling cost

It may be any of the above

11 / 25

In a job cost system, costs are accumulated:

By specific job

By department or process

By kind of material used

On a monthly basis

12 / 25

Bad debt is an example of:

Production overhead

Selling overhead

Administration overhead

Distribution overhead

13 / 25

Number of workers employed is used as a basis for the apportionment of:

Time office costs

Canteen expenses

Personnel department expenses

Any of these

14 / 25

Maximum possible productive capacity of a plant, when no operating time is lost, is its:

Practical capacity

Theoretical capacity

Normal capacity

None of the above

15 / 25

Warehouse expenses is an example of:

Production overhead

Selling overhead

Distribution overhead

None of these

16 / 25

The least suitable basis for applying overhead is :

Materials consumed

Direct labour hours

Direct labour cost

Machine hours

17 / 25

The allotment of whole items of cost to cost centres or cost units is called:

Cost allocation

Overhead absorption

Cost apportionment

Overhead allotment

18 / 25

In shoe manufacture, the most suitable cost system is:

Job costing

Contract costing

Batch costing

None of these

19 / 25

Selling and distribution overheads are absorbed on the basis of:

Rate per unit

Percentage on works cost

Percentage on selling price of each unit

Any of these

20 / 25

General overhead should be apportioned to various departments on the basis of:

Cost of materials consumed

Production hours

No. of workers

Capital value of asset

21 / 25

When the factory overhead control account has a closing debit balance, factory overhead was:

Over absorbed

Fixed

Under absorbed

Variable

22 / 25

The capacity which is based on the long term average of the sales expectancy level is known as:

Practical capacity

Normal capacity

Actual capacity

None of these

23 / 25

Charging to a cost centre those overhead that result Solely from the existence of that cost centre is known as:

Allocation

Absorption

Apportionment

Allotment

24 / 25

Contract price is not fixed in case of:

Cost plus contracts

De- escalation clause

Escalation clause

All of the above

25 / 25

Which of the following is a service department?

Refining department

Receiving department

Machining department

Finishing department

Your score is

The average score is 0%

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