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Correct Answer: C) 300 litres.
Correct Answer: A) Direct labor + manufacturing overhead.
Correct Answer: C) Work in process inventory.
Correct Answer: A) Ending work in process + units transferred out.
Correct Answer: A) Equal.
Correct Answer: B) Input-Normal Loss.
Correct Answer: C) Direct labor and manufacturing overhead.
Correct Answer: D) All of these.
Correct Answer: A) Canned Food Manufacturing.
Correct Answer: A) Department based on predetermined overhead rates.
Correct Answer: D) Normal Loss.
Correct Answer: B) Production cost report.
Correct Answer: C) On Production Cost Reports.
Correct Answer: A) Debit to WIP inventory.
Correct Answer: C) For each processing department.
Correct Answer: C) Provides a basis for evaluating the productivity of a department.
Correct Answer: B) Long term profit planning.
Correct Answer: A) FIFO.
Correct Answer: B) Equivalent units.
Correct Answer: C) Industries where homogeneous products are manufactured on continuous basis.
Correct Answer: C) A food manufacturer.
Correct Answer: B) Input less Normal Loss.
Correct Answer: A) Just in time processing.
Correct Answer: C) Produces homogeneous products.
Correct Answer: A) One WIP account.