Manufacturing Concepts
2 months ago
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10 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    Bad debts are considered to be a -

    answer choices

    Administrative costs

    Overhead costs

    Selling and distribution costs

    Cost of sales

  • Question 2
    30 seconds
    Q.

    Depreciation on office furniture is considered to be a -

    answer choices

    Administrative costs

    Selling and distribution costs

    Overhead costs

    Negative asset

  • Question 3
    30 seconds
    Q.

    Factory insurance is considered to be a -

    answer choices

    Overhead costs

    Prime costs

    Administrative costs

    Operating income

  • Question 4
    30 seconds
    Q.

    Carriage on sales affects -

    answer choices

    Selling and distribution costs

    Direct materials costs

    Raw materials costs

    Administrative costs

  • Question 5
    30 seconds
    Q.

    Customs duties increase -

    answer choices

    Raw material costs

    Overhead costs

    Selling and distribution costs

    Sales

  • Question 6
    30 seconds
    Q.

    Prime costs are made up of -

    answer choices

    Raw materials costs + direct labour costs

    Direct labour costs + Indirect labour costs

    Factory overheads + administrative costs

    Selling and distribution costs + administrative costs

  • Question 7
    30 seconds
    Q.

    The formula for calculating cost of sales is -

    answer choices

    Finished goods at beginning of the year + cost of finished goods produced - finished goods at end of the year

    Total manufacturing costs + work-in-progress at beginning of the year - work-in-progress at end of the year

    Finished goods at beginning of the year + cost of sales - finished goods at end of the year

    Finished goods at beginning of the year - cost of finished goods produced - finished goods at end of the year

  • Question 8
    30 seconds
    Q.

    Variable costs -

    answer choices

    Increase in total with an increase in production

    Increase per unit with an increase in production

    Include prime costs and all factory overheads

    Include all manufacturing, administrative and selling and distribution costs

  • Question 9
    30 seconds
    Q.

    Fixed costs -

    answer choices

    Increase in total with an increase in production

    Decrease per unit with an increase in production

    Increase per unit with an increase in production

    Decrease in total with a decrease in production

  • Question 10
    30 seconds
    Q.

    Cost of sales is equal to cost of finished goods produced when -

    answer choices

    There is a zero balance for work-in-progress at the beginning and the end of the year.

    There is a zero balance for finished goods stock at the beginning and the end of the year.

    There is a zero balance for raw materials stock at the beginning and the end of the year.

    At all times.

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