Cost Book Keeping Quiz 1 (3 MCQs)

Quiz Instructions

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1. What is a record of total actual expenditure incurred on indirect costs and the amount absorbed intoindividual units, jobs or processes known as?

Correct Answer: B) Production overhead control account.

2. In a typical cost ledger, what is the correct double entry for indirect labour cost incurred?

Correct Answer: A) Dr Overhead control, Cr Wages control.

3. Which one of the following may be included in the cost accounts but excluded from the financialaccounts?

Correct Answer: C) Notional rent.