Cost Accounting

Question 1

1A time sheet records

Easy

A. materials issued B. sales made C. cash received D. hours worked by an employee

Question 2

2Labour turnover: 30 leavers replaced, average workforce 300. The turnover rate is

Hard

A. 1% B. 3% C. 10% D. 30%

Question 3

3Standard time 10 hours; actual 8 hours; rate GH¢5/hour. Under the Halsey scheme (50%), total pay is

Hard

A. GH¢45 B. GH¢40 C. GH¢48 D. GH¢50

Question 4

4Overtime premium is

Easy

A. the extra rate paid above the basic rate for overtime B. a tax C. basic pay D. a fine

Question 5

5Time paid for when workers cannot work because of machine breakdown is

Easy

A. piece time B. idle time C. overtime D. standard time

Question 6

6A card recording the time an employee arrives and leaves is a

Easy

A. job card B. clock card C. requisition D. bin card

Question 7

7A worker paid GH¢5 per hour works 40 hours. Gross pay is

Easy

A. GH¢45 B. GH¢400 C. GH¢8 D. GH¢200

Question 8

8Under the Halsey bonus scheme, the worker receives

Medium

A. all of the time saved B. no bonus C. 50% of the time saved as bonus D. a fixed salary only

Question 9

9A worker paid by the number of units produced is on a

Easy

A. salary B. piece rate C. bonus only D. time rate

Question 10

10A worker earns GH₵ 15 per hour and works 40 hours. Find the gross wage.

Easy

A. GH₵ 55 B. GH₵ 1,500 C. GH₵ 400 D. GH₵ 600