Started on Wednesday, 10 April 2024, 11:04 AM
State Finished
Completed on Wednesday, 10 April 2024, 11:47 AM
Time taken 42 mins 25 secs
Marks 35.00/40.00
Grade 87.50 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Labour turnover refers to the employees joining the company.
True
False
Question 2
Correct
Mark 1.00 out of 1.00
Labour stability refers to the company’s ability to retain employees.
True
False
Question 3
Correct
Mark 1.00 out of 1.00
Cost drivers are those activities for which an increase in the level of activity will lead to a decrease in the total of that variable cost.
True
False
,Question 4
Incorrect
Mark 0.00 out of 1.00
When direct materials are issued to the production process, the cost of the materials flows from the materials inventory control
account to the production overheads clearance account.
True
False
Question 5
Correct
Mark 1.00 out of 1.00
The two most widely used methods of cost accumulation are job costing and process costing.
True
False
Question 6
Correct
Mark 1.00 out of 1.00
Cost accumulation is basically identical in job costing and process costing, except that in job costing, only variable overheads are
assigned to production, while process costing fully absorbs fixed production overheads as well.
True
False
Question 7
Correct
Mark 1.00 out of 1.00
Manufacturers, wholesalers, and distributors are all purchasers of merchandise.
True
False
,Question 8
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 9
Correct
Mark 1.00 out of 1.00
________________means the taxation required to be deducted by an employer from the remuneration paid to an employee.
Select one:
A. Employee's tax
B. Dividend tax
C. Company tax
D. Value added tax (VAT)
Question 10
Correct
Mark 1.00 out of 1.00
One of the following is not deductible from employee’s salary or wage:
Select one:
A. Employers’ medical aid contribution
B. Employees’ retirement contribution
C. Employees’ Unemployment Insurance Fund contribution
D. Pay-as-you-earn (PAYE)
, Question 11
Correct
Mark 1.00 out of 1.00
The _______ method requires the unit cost of inventory to be adjusted after every purchase of inventory to reflect an average cost per
unit.
Select one:
A. FIFO
B. marginal costing
C. absorption costing
D. weighted average
Question 12
Correct
Mark 1.00 out of 1.00
Within a relevant range, the amount of variable cost per unit:
Select one:
A. remains constant at each activity level.
B. differs at each activity level.
C. increases as activity increases.
D. decreases as activity increases.
Question 13
Correct
Mark 1.00 out of 1.00
Which one of the following is not a method of apportioning service department costs to production departments?
A. Step method.
B. Direct method.
C. Scatter diagram method.
D. Reciprocal method.
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