Exam (elaborations)
Mac1501 Assignment 4 Semester 2 2024
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4/24/24, 3:25 PM Assessment 4: Attempt reviewMAC1501-24-S1 Welcome Message Assessment 4
QUIZ
Started on Wednesday, 24 April
2024, 1:51 PM
State Finished
Completed on Wednesday, 24 April
2024, 3:25 PM
Time taken 1 hour 34 mins
Marks
out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
The nancial manager is directly
responsible for the management and
control of inventory.
True
False
Question 2
Correct
Mark 1.00 out of 1.00
There can be an amount for cost of
goods manufactured in a month with
zero sales.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
Productive time refers to the time an
employee spends at work.
True
False
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18196920&cmid=844971 1/12
,4/24/24, 3:25 PM Assessment 4: Attempt review
Question 4
Incorrect
Mark 0.00 out of 1.00
The strategic plan is the long-term plan
of an organisation.
True
False
Question 5
Correct
Mark 1.00 out of 1.00
The cost of wages paid to factory
employees on leave or on holiday is
considered as direct labour cost.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
The labour recovery rate is determined by
dividing the total budgeted labour cost by
the total budgeted productive hours per
employee for the year.
True
False
Question 7
Correct
Mark 2.00 out of 2.00
Complete the following statements by
choosing the correct answer from the
options provided.
The primary purpose of the liquidity
ratios is to determine
how well a rm is able to pay off
Production budget is dependent on
the sales budget
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18196920&cmid=844971 2/12
,4/24/24, 3:25 PM Assessment 4: Attempt review
Question 8
Correct
Mark 2.00 out of 2.00
Complete the following by choosing the
correct answer from the options
provided.
The area of accounting that provides
economic and nancial information
for investors, creditors and other
external users is
Financial accounting
A wholesaler who supplies goods to a
retailer on credit would be most
interested in the organisation’s
current ratio .
Question 9
Correct
Mark 2.00 out of 2.00
Choose the correct word(s) from the list
to match the description.
A factory’s
average level
of activity for
meeting the
company’s
production Normal capacity
demands,
considering
expected
interruptions
and seasonal
uctuations.
The
manufacturing
costs that we
Direct costs
can easily
trace to the
products
manufactured.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18196920&cmid=844971 3/12
, 4/24/24, 3:25 PM Assessment 4: Attempt review
Question 10
Partially correct
Mark 1.00 out of 2.00
Complete the following statements by
choosing the correct answer from the
options provided:
The process of relying on feedback to
ensure a plan is being implemented is
referred to as controlling.
the cost of conversion of direct mat
is not considered as part of total
cost of inventory of a VAT-registered
manufacturing company.
Question 11
Correct
Mark 2.00 out of 2.00
Complete the following statements by
choosing the correct answer from the
options provided:
A standard costing basis uses pre-
determined rates for
all the elements of production cost.
The time it takes to repair a machin
will lead to an increase in abnormal
idle time in a factory.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=18196920&cmid=844971 4/12
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