Preview Questions Cost Analyst | Role Specific Skill

Question 1: How should a cost analyst use cost-volume-profit (CVP) analysis to determine the price elasticity of demand for logistics services?

Which action should you take?

Choose only one option

By reviewing historical data on sales volume and customer feedback

By comparing the fixed and variable costs to the overall sales figures

By calculating the change in revenue resulting from changes in price and cost

By adjusting service pricing based on supply chain cost changes

Question 2: How can a cost analyst ensure that the cost data in accounting software is consistently accurate across different departments in the supply chain?

Which action should you take?

Choose only one option

By integrating data from various departments and ensuring regular reconciliation

By assuming the software automatically detects inconsistencies

By relying on manual entry for each department's data

By focusing only on the warehouse department and ignoring others

Question 3: How should "tax calculations" be handled in accounting software for logistics services?

Which action should you take?

Choose only one option

Set up the software to automatically apply applicable taxes based on the location and type of service provided

Ignore tax calculations and only focus on the base cost of logistics services

Use a flat tax rate for all transactions, regardless of the tax jurisdiction

Manually calculate taxes for each transaction and enter them into the software

Question 4: How do you incorporate inventory carrying costs into a budget forecast?

Which action should you take?

Choose only one option

Include them as fixed costs that do not change with fluctuations in inventory levels

Estimate carrying costs based on average inventory levels and storage expenses

Calculate them only at the end of the fiscal year

Ignore them as they are not significant in logistics forecasts

Question 5: How should a Cost Analyst approach "data cleaning" in large logistics datasets to ensure accurate reporting and analysis?

Which action should you take?

Choose only one option

Ignore minor discrepancies in the data to focus on the analysis

Treat all data as clean without performing any preliminary checks or corrections

Rely on external data sources for cleaning, rather than processing the internal dataset

Apply data wrangling techniques, including handling missing values, removing duplicates, and correcting errors

Question 6: When implementing "lean principles" in logistics, what is the primary focus for reducing costs?

Which action should you take?

Choose only one option

Streamline transportation routes without considering the impact on delivery time

Increase inventory turnover to reduce storage costs, regardless of other operational inefficiencies

Identify and eliminate waste in processes such as transportation, warehousing, and inventory management

Focus solely on reducing labor costs without examining the entire supply chain