ICAN 2025 Management Information | Mixed
Practice these randomly selected questions to test your readiness.
Question 1
Labour turnover has an effect which translates into cost. Which ONE of the following is NOT an effect of labour turnover?
Theory answer required.
Question 2
The following relates to product X
Selling price - N1,500
Direct material - N500
Direct labour - N300
Variable overhead - N250
Fixed overhead - N1,800,000
What is the break-even point?
Theory answer required.
Question 3
A cost which is NOT easily or conveniently traceable to a cost object is known as
Theory answer required.
Question 4
Which of the following is another name for MIXED cost?
Theory answer required.
Question 5
In a particular process, input was 6,000 litres, output was 5,600 litres, normal loss is 10%. Calculate the abnormal gain or loss
Theory answer required.
Question 6
The standard price for material “B” is N5.50 per kg. 20,500 kg was purchased for N118,900 but only 19,800kg was used What is the material price variance?
Theory answer required.
Question 7
A company makes a single product W with a sale price of N250 and total cost of N210 of which N180 is variable. The annual fixed cost is N6,300,000. What is the breakeven point in units of sales?
Theory answer required.
Question 8
As a result of rapidly changing conditions, many organisations review and modify their budget every quarter or half yearly. What is this type of budget called?
Theory answer required.
Question 9
AV Ltd uses first in first out ((F.I.F.O) inventory method. Calculate the value of the 2000 units issued on 22/01
Theory answer required.
Question 10
Calculate the full cost of sales.
Theory answer required.
Question 11
A software package that is designed to perform generalised tasks for several users is called
Theory answer required.
Question 12
A computer processor is made up of which of the following combinations?
Theory answer required.
Question 13
The operations performed by a typical system software include the following, EXCEPT
Theory answer required.
Question 14
The type of information system used by all levels of management of an organisation is known as
Theory answer required.
Question 15
Which of the following is an example of non-impact printer?
Theory answer required.
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