Inventory Management – Financial and Strategic Management MCQ

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Inventory Management – Financial and Strategic Management MCQ

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: The following information is given for receipts and issues of material in the month of March 2019.Inventory Management – Financial and Strategic Management MCQ 5What are the value of closing stock under the FIFO and LIFO methods?

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Smoke, dust, gases, and loss of weight due to seasoning are examples of

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Which of the following is the objective of inventory management?

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During the time of inflation, which method of pricing of material issues leads to higher material costs for a job?

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___ method of pricing of material issues is not popular as it always undervalues the stock and leads to the creation of the secret reserve.

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If annual total carrying cost, per unit carrying cost, and cost per order is 7 15,000, 7 10 & 7 150 respectively, then Economic Order Quantity will be:

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: In the technique of inventory control, quantities in the hand of each item or class of stock are reviewed periodically say 30, 45, or 60 days.

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If EOQ is 200 units, ordering cost is ₹ 20per order and total purchases are 4,000 units. The carrying cost per unit will be:

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___is a value-based system of inventory control, in which materials are analyzed according to their value so that costly and more valuable materials are given greater attention.

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Which of the following is not a cost price method of pricing material issues?

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The most suitable inventory control technique for spare parts is:

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A Ltd. submits the following data:Normal uses (unit per week): 50Minimum usage (unit per week): 25Maximum usage (unit per week): 75Re-order period (weeks): 4-6
Calculate re-order level.

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: The rate per kg of material P, Q, R & S are respectively ₹ 12,₹ 15,₹ 18 & ₹ 21. The input-output ratios of the material are 140%, 130%, 120% & 110% respectively. The most economical material for production is:

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This type of loss is connected with both input and output:

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Which of the following does not normally appear on a material requisition form?

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When prices fluctuate widely, which of the following method will even out the effect of fluctuations?

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A, B, C analysis is

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: Which of the following is considered as normal loss of material

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Amaze Ltd. had an opening inventory of 5,000 units costing ₹ 5 per unit on 1st April 2016. Following receipts and issues took place in April 2016:5th April 2016: Purchased 800 units @ ₹ 8 per unit12th April 2016: Purchased 200 units @ ₹ 8 per unit15th April 2016: Issued 3,000 units25th April 2016: Purchased 1,000 units @ ₹ 9 per unitCost of inventory as of 30th April 2016 under weighted average basis will be:

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A written comprehensive order, with specification, material code, and quantity sent to inform the purchasing department, of a need for material is called

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_ account does not record the balance of stores ledger control account.

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Re-order Quantity: 300 kgMinimum usage: 20 kg per dayMinimum lead time: 5 daysMaximum stock level: 400 kgRe-order level will be

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Normal usage 50 units per week, maximum usage 75 units per week, reorder period 4 to 6 weeks. The minimum level of stock will be

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In a situation of rising prices, profit and tax liability would be lower under method than under method of material issue pricing.

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EOQ is 200 units, ordering cost Rs. 20 per order, and total purchases 4,000 units. The carrying cost per unit will be

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About 50 units are required every day for a machine. A fixed cost of ₹ 50 is incurred for placing an order. The inventory carrying cost per unit amounts to ₹ 0.02 per day. The lead period is 32 days. Economic Order Quantity is

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In a company, the weekly minimum and maximum consumption of Material-A is 25 and 75 units respectively. The re-order quantity as fixed by the company is 300 units. The material is received within 4 to 6 weeks from the issue of supply order. The maximum level of Material-A is

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Following information is available regarding a product-X:1st January 2015:Opening balance: 50 units @ Rs. 4
Receipts:5th January 2015: 100 units @ Rs. 512th January, 2015: 200 units @ Rs. 5.50
Issues:2nd January 2015: 30 units18th January 2015: 170 unitsThe value of closing stock according to the FIFO method is

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For a product-X, the following information is available:Maximum consumption per week: 300 unitsNormal consumption per week: 200 unitsRe-order period: 2 to 4 weeksThe re-order level will be

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Bill of material acts as an authorization to the store’s department in procuring the material and all the materials listed on the bill is sent to the.

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: Under which of the following inventory control techniques, two piles or bundles are maintained for each item of stock

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Dec 2014: Under which of the following inventory control technique, the maximum and minimum level of each stock is laid down

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The method of regular physical verification of material throughout the year is known as

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Which of the following is recorded by bin card

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Which type of material is classified as ‘A’ type in ABC analysis

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