What is the value of all tangible resources such as raw materials and Labour that are used in the production process called?

What is the value of all tangible resources such as raw
materials and Labour that are used in the production
process called?
by

1 Answer

Answer :

Real Cost
by

Related questions

Raw materials such as forest and food are termed as a. A. Infinite resources B. Finite resources C. Finite renewable resources D. Finite non renewable resources E. All of the above

Description : Raw materials such as forest and food are termed as a. A. Infinite resources B. Finite resources C. Finite renewable resources D. Finite non renewable resources E. All of the above

Last Answer : C. Finite renewable resources

What is the m What is the major differe ajor difference in focus bet nce in focus between locat ween location decision ion decisions in the service sect s in the service sector and in or and in the manufacturing sector? a)There is no difference in focus b)The focus in manufacturing is revenue maximization, while the focus in service is cost minimization c)The focus in service is revenue maximization, while the focus in manufacturing is cost minimization d)The focus in manufacturing is on raw materials, while the focus in service is on labour

Description : What is the m What is the major differe ajor difference in focus bet nce in focus between locat ween location decision ion decisions in the service sect s in the service sector and in or and ... minimization d)The focus in manufacturing is on raw materials, while the focus in service is on labour

Last Answer : c)The focus in service is revenue maximization, while the focus in manufacturing is cost minimization

Which one of the following is normally NOT included in production cost ? (a) Cost of raw material (b) Cost of labour (c) Cost of advertisement (d) indirect material cost

Description : Which one of the following is normally NOT included in production cost ? (a) Cost of raw material (b) Cost of labour (c) Cost of advertisement (d) indirect material cost

Last Answer : (a) Cost of raw material

Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Description : Gross National Product means - (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semifinished products (4) money value of inputs and outputs

Last Answer : (2) money values of the total national production for any given period Explanation: Gross national product (GNP) is the market/monetary value of all products and services produced in one year by labour and property supplied by the residents of a country.

Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Description : Gross National Product means (1) gross value of finished goods (2) money values of the total national production for any given period (3) gross value of raw materials and semi-finished products (4) money value of inputs and outputs

Last Answer : money values of the total national production for any given period

Commercial production of soda ash by Solvay process requires limestone, __________ as raw materials. (A) Coke and sand (B) Brine and coal (C) Coke and caustic soda (D) None of these

Description : Commercial production of soda ash by Solvay process requires limestone, __________ as raw materials. (A) Coke and sand (B) Brine and coal (C) Coke and caustic soda (D) None of these

Last Answer : (B) Brine and coal

Large tools and machines used in a production process for a considerable length of time are classified as A)major equipment. B)accessory equipment. C)component parts. D)raw materials. E)consumable supplies.

Description : Large tools and machines used in a production process for a considerable length of time are classified as A)major equipment. B)accessory equipment. C)component parts. D)raw materials. E)consumable supplies.

Last Answer : A)major equipment

Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production overheads, and non –production overheads are often added as a percentage of total production cost 3. The job costing method can be applied in costing batches (a) (1) only (b) (1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Description : Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production ... 1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Last Answer : (c) (1) and (3) only

(d) Rs 1.50 Q.61. CA Co manufactures a single product and has drawn up the following flexed budget for the year. 60% 70% 80% Rs Rs Rs Direct materials 120,000 140,000 160,000 Direct labour 90,000 105,000 120,000 Production overheads 54,000 58,000 62,000 Other overheads 40,000 40,000 40,000 Total Cost 304,000 343,000 382,000 What would be the total cost in a budget that is prepared at the 77% level of activity? (a) Rs 330,300 (b) Rs 370,300 (c) Rs 373,300 (d) Rs 377,300

Description : Q.61. CA Co manufactures a single product and has drawn up the following flexed budget for the year.  60% 70% 80%  Rs Rs Rs Direct materials 120,000 140,000 160,000 Direct labour 90,000 105,000 120,000 Production ... activity? (a) Rs 330,300 (b) Rs 370,300 (c) Rs 373,300 (d) Rs 377,300

Last Answer : (b) Rs 370,300

Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : (3) is a measure of the proportional of the existing capital stock used for current production. Explanation: Capacity utilisation refers to the extent or level to which the productive capacity of a ... as a percentage, it is computed by dividing the total capacity with the portion being utilized.

Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital stock used for current production. (4) rises as the economy moves into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Description : Capacity utilisation (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

Last Answer : is a measure of the proportional of the existing capital stock used for current production.

Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25 per completed unit and Rs 2.50 per unit incomplete. If 11,750completed units were transferred out, what was the closing inventory in Process B? (a) Rs. 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00

Description : Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50  per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25  per completed unit and Rs ... 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00

Last Answer : (a) Rs 142,485

Which of the following accurately categorizes the Machines an Organization uses ? A. Tangible, Financial Resources B. Intangible, Financial Resources C. Tangible, Intellectual CapitalD. Tangible, Physical Resources

Description : Which of the following accurately categorizes the Machines an Organization uses ? A. Tangible, Financial Resources B. Intangible, Financial Resources C. Tangible, Intellectual Capital D. Tangible, Physical Resources

Last Answer : Tangible, Physical Resources

Which one ? Urea Fertilizer Production To do Raw materials ?

Description : which one Urea Fertilizer Production To do Raw materials ?

Last Answer : Natural Gas Urea Fertilizer Production To do Raw materials.

Which of the following costs would be considered a fixed cost? A. Raw materials. B. Depreciation. C. Bad-debt losses. D. Production labor.

Description : Which of the following costs would be considered a fixed cost? A. Raw materials. B. Depreciation. C. Bad-debt losses. D. Production labor.

Last Answer : B. Depreciation.

Raw materials for urea production are (A) CO2 and N2 (B) CO2 , H2 and N2 (C) NH3 and CO (D) HNO3 and CaCO3

Description : Raw materials for urea production are (A) CO2 and N2 (B) CO2 , H2 and N2 (C) NH3 and CO (D) HNO3 and CaCO3

Last Answer : (B) CO2 , H2 and N2

Raw materials required for the production of CAN (Calcium ammonium nitrate) is NH3 (A) HNO3 & limestone (B) CO2 & H2SO4 (C) HNO3 & NH4Cl (D) CO2 & KNO3

Description : Raw materials required for the production of CAN (Calcium ammonium nitrate) is NH3 (A) HNO3 & limestone (B) CO2 & H2SO4 (C) HNO3 & NH4Cl (D) CO2 & KNO3

Last Answer : (A) HNO3 & limestone

Commercial production of calcium carbide requires limestone and __________ as raw materials. (A) Coke (B) Sand (C) Soda ash (D) Fuel oil

Description : Commercial production of calcium carbide requires limestone and __________ as raw materials. (A) Coke (B) Sand (C) Soda ash (D) Fuel oil

Last Answer : (B) Sand

Consider the production of ammonia from methene and air as raw materials. The catalysts used are: (i) __________ for steam reforming of methane and (ii) __________ for ammonia synthesis. (A) (i) - Ni/Al2O3 ; (ii) - Cu - ZnO/Al2O3 (B) (i) - Fe/Al2O3 ; (ii) - Cu - ZnO/Al2O3 (C) (i) - Ni/Al2O3 ; (ii) - Fe/Al2O3 (D) (i) - Fe/Al2O3 ; (ii) - Ni/Al2O3

Description : Consider the production of ammonia from methene and air as raw materials. The catalysts used are: (i) __________ for steam reforming of methane and (ii) __________ for ammonia synthesis. (A) (i) - Ni/Al2O3 ; (ii) - Cu - ZnO/ ... (i) - Ni/Al2O3 ; (ii) - Fe/Al2O3 (D) (i) - Fe/Al2O3 ; (ii) - Ni/Al2O3

Last Answer : (C) (i) - Ni/Al2O3 ; (ii) - Fe/Al2O3

Which of the following is production related procurement?  Offline supplies  Raw materials  Information System  None of the above

Description : Which of the following is production related procurement?  Offline supplies  Raw materials  Information System  None of the above

Last Answer : Raw materials

What of the following is production related procurement? *  Office supplies.  Raw materials.  Information systems  Furniture.

Description : What of the following is production related procurement? *  Office supplies.  Raw materials.  Information systems  Furniture.

Last Answer :  Raw materials

Which of the following is production related procurement?  A. Marketing System  B. Offline suppliesC. Information System D. Raw materials

Description : Which of the following is production related procurement?  A. Marketing System  B. Offline supplies C. Information System  D. Raw materials

Last Answer : D. Raw materials

What of the following is production related procurement? A. Office supplies. B. Raw materials. C. Information systems. D. Furniture. E. None of the above. Ans: B

Description : What of the following is production related procurement? A. Office supplies. B. Raw materials. C. Information systems. D. Furniture. E. None of the above. Ans: B

Last Answer : B. Raw materials.

Which production is related to procurement? A.Office supplies. B.Raw materials. C.Information systems. D.Furniture. Answer: B

Description : Which production is related to procurement? A.Office supplies. B.Raw materials. C.Information systems. D.Furniture. Answer: B

Last Answer : B.Raw materials

Which of the following is production related procurement?  Offline supplies  Raw materials  Information System  None of the above

Description : Which of the following is production related procurement?  Offline supplies  Raw materials  Information System  None of the above

Last Answer : Raw materials

Three basic raw materials which are needed in large quantities for production of steel are (A) Iron ore, coal and sulphur (B) Iron ore, carbon and sulphur (C) Iron ore, coal and lime stone (D) Iron ore, carbon and lime stone

Description : Three basic raw materials which are needed in large quantities for production of steel are (A) Iron ore, coal and sulphur (B) Iron ore, carbon and sulphur (C) Iron ore, coal and lime stone (D) Iron ore, carbon and lime stone

Last Answer : Answer: Option C

Why does primary sector continues to be the largest employer in India? (a) Secondary and Tertiary sector are not able to generate comparatively enough employment opportunities despite increase in their production level. (b) It generates more employment opportunities. (c) It exploits natural resources and provides raw material to secondary sector.(d) None of the above

Description : Why does primary sector continues to be the largest employer in India? (a) Secondary and Tertiary sector are not able to generate comparatively enough employment opportunities despite increase in their ... exploits natural resources and provides raw material to secondary sector.(d) None of the above

Last Answer : (a) Secondary and Tertiary sector are not able to generate comparatively enough employment opportunities despite increase in their production level.

A transaction in which an owner of a tangible personal property transfers the property such property is known as: a) Bailment b) Pledge c) Hypothecation d) Lease

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Last Answer : a) Bailment

Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Description : Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Last Answer : (B) Onsite and offsite costs

.Which of the following statements are true about labour idle time? A. Labour idle time variance is not caused by non-availability of raw material B. Labour idle time variance is measured as : Abnormal idle hours * Actual hourly rate C. Labour idle time variance is always unfavorable or adverse D. All of the above

Description : .Which of the following statements are true about labour idle time? A. Labour idle time variance is not caused by non-availability of raw material B. Labour idle time variance is measured as : Abnormal ... hourly rate C. Labour idle time variance is always unfavorable or adverse D. All of the above

Last Answer : C. Labour idle time variance is always unfavorable or adverse

___________ occupies the central place in business. A. People. B. Raw material. C. Labour. D. Finished goods.

Description : ___________ occupies the central place in business. A. People. B. Raw material. C. Labour. D. Finished goods.

Last Answer : B. Raw material.

Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material

Description : Which of the following will have a relatively flat supply curve (a) Land ; (b) Labour ; (c) Capital ; (d) Raw material

Last Answer : (a) Land ;

In the short run which of the following is fixed (a) Labour ; (b) Capital ; (c) Raw material ; (d) None

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Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called 1. raw materials 2. major equipment 3. accessory equipment 4. component part 5. process materials

Description : Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called 1. raw materials 2. major equipment 3. accessory equipment 4. component part 5. process materials

Last Answer : accessory equipment

Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called A)raw materials. B)major equipment. C)accessory equipment. D)component parts. E)process materials.

Description : Items that are purchased routinely, do not become part of the final physical product, and are treated like expense items rather than capital goods are called A)raw materials. B)major equipment. C)accessory equipment. D)component parts. E)process materials.

Last Answer : C)accessory equipment.

Which option is not mentioned in a firm’s balance sheet? A) Cash held at the bank B) Revenue from sales of the company’s products C) Total issued capital D) Value of stocks of raw materials held

Description : Which option is not mentioned in a firm’s balance sheet? A) Cash held at the bank B) Revenue from sales of the company’s products C) Total issued capital D) Value of stocks of raw materials held

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They were traditionally made from bone, quill, ivory or gold and silver, if you could afford such ostentation. Mass production is traced to the American entrepreneur Charles Forster who noticed young boys selling similar objects made of Spanish willow while travelling through Brazil. He returned to Boston in 1870 and set up a factory that used white birch as raw material because it was tasteless. What business did Forster thus begin?

Description : They were traditionally made from bone, quill, ivory or gold and silver, if you could afford such ostentation. Mass production is traced to the American entrepreneur Charles Forster who noticed young ... white birch as raw material because it was tasteless. What business did Forster thus begin?

Last Answer : Toothpicks.

What are the raw materials used for the precipitation of Na2Co3 by Solvay ammonium Process ?

Description : What are the raw materials used for the precipitation of Na2Co3 by Solvay ammonium Process ?

Last Answer : Sodium Chloride, limestone and ammonia

Pick out the wrong statement. (A) For the manufacture of styrene, the major raw materials are benzene and ethylene (B) One important copolymer of styrene is SBR, which is widely used in the manufacture of automobile tyres (C) Manufacture of phenol by chloroben-zene-eaustic process involves. The chlorination of benzene, causticisation and hydrolysis (D) Phenol manufacture by chlorobenzene-caustic process is competitive even when low cost chlorine is not available

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Last Answer : (D) Phenol manufacture by chlorobenzene-caustic process is competitive even when low cost chlorine is not available

Raw materials for 'Solvay Process' for manufacture of the soda ash are (A) Salt, limestone and coke or gas(B) Ammonia, salt and limestone(C) Ammonia limestone and coke(D) None of these

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Last Answer : (A) Salt, limestone and coke or gas

Pick out the wrong statement. (A) Kraft method of pulp manufacture can process all types of fibrous raw materials (B) Digestion time for bagasse is less than that for wood base materials (C) Both temperature and pressure in the digestor is less in case of the sulphite method as compared to that in the sulphate method (D) None of these

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Which of the following is not a component of working capital? (A) Raw materials is stock (B) Finished products in stock (C) Transportation facilities (D) Semi-finished products in the process

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Last Answer : (C) Transportation facilities

Which of the following is not a component of the fixed capital for a chemical plant facility? (A) Raw materials inventory (B) Utilities plants (C) Process equipment (D) Emergency facilities

Description : Which of the following is not a component of the fixed capital for a chemical plant facility? (A) Raw materials inventory (B) Utilities plants (C) Process equipment (D) Emergency facilities

Last Answer : (A) Raw materials inventory

In which process, Purification of raw materials by removing foreign matter (a) Harvesting (c) Primary (b) Secondary (d) Tertiary

Description : In which process, Purification of raw materials by removing foreign matter (a) Harvesting (c) Primary (b) Secondary (d) Tertiary

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Process of managing upstream and downstream of final goods, flow of raw materials and information about resellers and final consumers is classified as A. marketing logistics network B. supply chain management C. delivery network D. physical distribution network

Description : Process of managing upstream and downstream of final goods, flow of raw materials and information about resellers and final consumers is classified as A. marketing logistics network B. supply chain management C. delivery network D. physical distribution network

Last Answer : B. supply chain management

Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

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Last Answer : (2) organizes the process of production Explanation: In economics, factors of production are the inputs to the production process. Factors of production' may also refer specifically to the 'primary factors', ... the other factors of production, land, labor, and capital, in order to make a profit.

Enterpreneurial ability is a special kind of labour that (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Description : Enterpreneurial ability is a special kind of labour that (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Last Answer : organizes the process of production

Business Value = (A) Tangible Elements (B) Intangible Elements (C) Tangible Elements – Intangible Elements (D) Tangible Elements + Intangible Elements

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Last Answer : (D) Tangible Elements + Intangible Elements

. Business Value = (A) Tangible Elements (B) Intangible Elements (C) Tangible Elements – Intangible Elements (D) Tangible Elements + Intangible Elements

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Last Answer : (D) Tangible Elements + Intangible Elements