MAC2601 Assessment 1
Started on Tuesday, 18 March 2025, 5:22 PM
State Finished
Completed on Tuesday, 18 March 2025, 6:20 PM
Time taken 58 mins 24 secs
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
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Question text
Costs that vary, in total, in direct proportion and in the same direction as the output, is called
……
a.
Fixed costs
b.
Variable costs
c.
Stepped costs
d.
Mixed costs
Question 2
Correct
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Question text
A written instruction to a supplier for the delivery of specified goods at an agreed upon price is
called …
a.
a purchase order.
b.
a purchase requisition.
c.
receiving.
d.
a materials requisition.
Question 3
Correct
Mark 1.00 out of 1.00
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Question text
What reason would not constitute a valid reason for keeping inventory?
a.
Precautionary motive
b.
Transaction motive
c.
Regulatory motive
, d.
Speculative motive
Question 4
Correct
Mark 1.00 out of 1.00
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Question text
A detailed financial plan is known as a …
a.
strategic performance plan.
b.
chart.
c.
report.
d.
budget.
Question 5
Correct
Mark 1.00 out of 1.00
Flag question
Question text
A manufacturing company uses direct labour cost as a basis for determining its predetermined
overhead recovery rate. In calculating the predetermined overhead recovery rate for the past
year, the company misclassified a portion of direct labour cost as indirect labour cost. This
misclassification will …
a.
Started on Tuesday, 18 March 2025, 5:22 PM
State Finished
Completed on Tuesday, 18 March 2025, 6:20 PM
Time taken 58 mins 24 secs
Marks 50.00/50.00
Grade 100.00 out of 100.00
Question 1
Correct
Mark 1.00 out of 1.00
Flag question
Question text
Costs that vary, in total, in direct proportion and in the same direction as the output, is called
……
a.
Fixed costs
b.
Variable costs
c.
Stepped costs
d.
Mixed costs
Question 2
Correct
,Mark 1.00 out of 1.00
Flag question
Question text
A written instruction to a supplier for the delivery of specified goods at an agreed upon price is
called …
a.
a purchase order.
b.
a purchase requisition.
c.
receiving.
d.
a materials requisition.
Question 3
Correct
Mark 1.00 out of 1.00
Flag question
Question text
What reason would not constitute a valid reason for keeping inventory?
a.
Precautionary motive
b.
Transaction motive
c.
Regulatory motive
, d.
Speculative motive
Question 4
Correct
Mark 1.00 out of 1.00
Flag question
Question text
A detailed financial plan is known as a …
a.
strategic performance plan.
b.
chart.
c.
report.
d.
budget.
Question 5
Correct
Mark 1.00 out of 1.00
Flag question
Question text
A manufacturing company uses direct labour cost as a basis for determining its predetermined
overhead recovery rate. In calculating the predetermined overhead recovery rate for the past
year, the company misclassified a portion of direct labour cost as indirect labour cost. This
misclassification will …
a.
