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    ABDUL WAHAB
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    The document contains 30 multiple choice questions about cost accounting concepts like manufacturing overhead costs, direct and indirect costs, product costs, inventoriable costs, cost of goods sold, fixed and variable costs, period costs, cost allocation, cost drivers, prime costs, conversion costs, and total costs of products. The questions cover topics like classification of different types of costs, formulas used to calculate costs of goods sold and overhead application rates, components included in inventory and product costs, and considerations for cost-based decision making.

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    The document contains 30 multiple choice questions about cost accounting concepts like manufacturing overhead costs, direct and indirect costs, product costs, inventoriable costs, cost of goods sold, fixed and variable costs, period costs, cost allocation, cost drivers, prime costs, conversion costs, and total costs of products. The questions cover topics like classification of different types of costs, formulas used to calculate costs of goods sold and overhead application rates, components included in inventory and product costs, and considerations for cost-based decision making.

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    © All Rights Reserved
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    8 views4 pages

    0.5 Out of 0.5 Points

    Uploaded by

    ABDUL WAHAB
    The document contains 30 multiple choice questions about cost accounting concepts like manufacturing overhead costs, direct and indirect costs, product costs, inventoriable costs, cost of goods sold, fixed and variable costs, period costs, cost allocation, cost drivers, prime costs, conversion costs, and total costs of products. The questions cover topics like classification of different types of costs, formulas used to calculate costs of goods sold and overhead application rates, components included in inventory and product costs, and considerations for cost-based decision making.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 4

     Question 1

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    Manufacturing overhead costs in an automobile manufacturing plant MOST likely
    include:

     Question 2
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    Which expense is included in prme cost of manufacturing?

     Question 3
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    An over statement of work in process at the end of period will:

     Question 4
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    Which one of the following items is a direct cost?

     Question 5
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    Which of the following is product cost ?

     Question 6
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    Direct materials inventory would normally include:

     Question 7
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    Wages paid to machine operators on an assembly line are classified as a:

     Question 8
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    Indirect manufacturing costs:

     Question 9
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    Inventoriable costs:

     Question 10
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    Which of the following formulas determine cost of goods sold in a manufacturing
    entity?

     Question 11
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    "For manufacturing firms, inventoriable costs include:"

     Question 12
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    Fixed costs:

     Question 13
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    Costs that are initially recorded as assets and expensed when sold are called:

     Question 14
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    When making decisions:

     Question 15
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    Period costs:

     Question 16
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    Cost allocation is:

     Question 17
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    Which of the following would be LEAST likely to be a cost driver for a company's
    accounting costs?

     Question 18
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    Prime costs include:

     Question 19
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    Which of the following is correct for conversion cost ?

     Question 20
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    Manufacturing overhead costs are also referred to as:

     Question 21
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    "A manufacturing company applies Factory Overhead to Production @ Rs 10 per
    Direct Labour hour. During the last year, total factory Overhead cost incurred was
    Rs 75,000 and the total Direct Labour Hours worked were 8,000. State which of
    the following is the correct adjustment of Factory Overhead."

     Question 22
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    Product cost for reimbursement under government contracts may include all costs
    EXCEPT:

     Question 23
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    "In making product mix and pricing decisions, managers should focus on:"

     Question 24
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    The income statement of a manufacturing firm reports:

     Question 25
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    Merchandise inventory would normally include:

     Question 26
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    Product cost for financial statement purposes may include:

     Question 27
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    ________ are all manufacturing costs that are related to the cost object but
    cannot be traced to that cost object.

     Question 28
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    Variable costing is acceptable for

     Question 29
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    "Within the relevant range, if there is a change in the level of the cost driver,
    then:"

     Question 30
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    Which of the following is correct for total cost of product ?

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