Chapter6_F2考试试题及答案P5-新东方在线职业题库

The following represent the materials transactions for a company for the month of December 20X6:$000sMaterials purchases 176Issued to production 165Materials written off 4Returned to stores 9Returned to suppliers 8The material inventory at 1 December 20X6 was $15,000.What is the closing balance on the materials inventory account at 31 December 20X6?

A

$5,000

B

$16,000

C

$23,000

D

$31,000

Which of the following statements is correct?

A

A stores ledger account will be updated from a goods received note only

B

A stores requisition will only detail the type of product required by a customer

C

The term'lead time' is best used to describe the time between receiving an order and paying for it

D

To make an issue from stores authorisation should be required

What is the correct description of perpetual inventory?

A

The counting and valuing of selected items on a rotating basis

B

The recording, as they occur, of receipts, issues and the resulting balances of individual items of inventory

C

The recording of inventory that is constantly changing

D

The counting and valuing inventory on a regular (e.g. weekly) basis

What would be the double entry for an issue of indirect production materials?

A

Dr Materials control account Cr Finished goods control account

B

Dr Production overhead control a/c Cr Materials control account

C

Dr Work-in-progress control account Cr Production overhead control a/c

D

Dr Work-in-progress control account Cr Materials control account

Which of the following will be completed by a production department requiring new materials to be obtained from suppliers?

A

A purchase order

B

A delivery note

C

A goods requisition note

D

A goods received note

Which of the following procedures are carried out to minimise losses from inventory?(i) use of standard costs for purchases(ii) restricted access to stores(iii) regular stocktaking

A

(i) and (ii)

B

(ii) and (iii)

C

(ii) only

D

All of them

What is the economic batch quantity used to establish?Optima

A

reorder quantity

B

recorder level

C

order quantity

D

inventory level

A company determines its order quantity for a raw material by using the Economic Order Quantity (EOQ) model.What would be the effects on the EOQ and the total annual holding cost of a decrease in the cost of ordering a batch of raw material?

A

EOQ Total annual holding costA

Higher Lower

B

EOQ Total annual holding costA

Higher Higher

C

EOQ Total annual holding costA

Lower Higher

D

EOQ Total annual holding costA

Lower Lower

Data relating to a particular stores item are as follows:

Average daily usage 400 units

Maximum daily usage 520 units

Minimum daily usage 180 units

Lead time for replenishment of inventory 10 to 15 days

Reorder quantity 8,000 units

What is the reorder level (in units) which avoids stockouts (running out of inventory)?

A

5,000

B

6,000

C

7,800

D

8,000

The material stores control account for a company for March looks like this：

MATERIAL STORES CONTROL ACCOUNT

$ $

Balance b/d 12,000 Work in progress 40,000

Suppliers 49,000 Overhead control 12,000

Work in progress 18,000 Balance c/d 27,000

79,000 79,000

Balance b/d 27,000

Which of the following statements are correct?

(i) Issues of direct materials during March were $18,000

(ii) Issues of direct materials during March were $40,000

(iii) Issues of indirect materials during March were $12,000

(iv) Purchases of materials during March were $49,000

A

(i) and (iv) only

B

(ii) and (iv) only

C

(ii), (iii) and (iv) only

D

All of them

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