1641. Direct Material is a :

A. Fixed cost
B. Variable cost *
C. Semi variable cost
D. None of them

1642. Direct material is a :

A. Manufacturing cost *
B. Administration cost
C. Selling and distribution cost
D. Any of the above

1643. In manufacturing industries , the most important element of cost is :

A. Material *
B. Labour
C. Overheads
D. None of the above

1644. Which of the following is an accounting record ?

A. Bill of Material
B. Bin Card
C. Stores ledger *
D. All of these

1645. Which of the accompanying records is utilized for giving materials to creations divisions ?

A. Purchase Requisition Note
B. Stores Requisition Note *
C. Goods Received Note
D. Stores Credit Note

1646. Which of the following is considered to be a normal loss of materials ?

A. Loss due to accidents
B. Pilferage
C. Loss as a result of breaking the bulk *
D. Loss as a result of careless material handling

1647. Which of the following pricing strategies approximates current economic values for issues?

A. Last-in-first-out price *
B. First-in-first- out price
C. Highest -in-first-out price
D. Weighted average price

1648. In which of the accompanying strategies for estimating, costs linger behind the ongoing financial qualities ?

A. Last-in-first-out price
B. First-in-first-out price *
C. Replacement price
D. Weighted average price

1649. Which of the following approaches to stock control focuses on a specific set of materials?

A. Perpetual inventory system
B. Materials turnover
C. Maximum, Minimum and re-order level setting
D. ABC analysis *

1650. In base stock strategy for evaluating the material issues, the term ” base stock”represents the :

A. Quantity of stock being issued
B. Stock in balance
C. Minimum stock *
D. Maximum stock