CA Inter P4 · Chapter 2 · Question 12 of 12
Which of the following statements about a bin card is correct?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) It is kept by the storekeeper and records quantities only
Explanation
A bin card is maintained by the storekeeper, usually attached to the bin or rack, and shows receipts, issues and balance in quantity only. The stores ledger is maintained in the cost accounting department and records both quantities and values.
More Material Cost MCQs
- Q2Using the data where annual demand is 32,400 units, ordering cost is ₹200 per order and carrying cost is ₹9 per unit per annum, what is…
- Q3For a component, weekly usage is: maximum 900 units, normal 700 units, minimum 500 units. Lead time is: maximum 6 weeks, normal 4.5 weeks…
- Q4A material has a re-order level of 5,400 units and a re-order quantity of 4,000 units. Minimum weekly usage is 500 units and the minimum…
- Q5Opening stock of a material is 400 kg at ₹30 per kg. A purchase of 600 kg is made at ₹33 per kg. Thereafter 700 kg are issued to…
- Q6Using the same data (opening stock 400 kg at ₹30, purchase 600 kg at ₹33, issue of 700 kg after the purchase), what is the value of…