Global MCQ Practice

🌐 Total MCQ
🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books

Process Costing Quiz 3 (30 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. In RXZ Company, there are zero units in beginning work in process, 7, 000 units started into production, and 500 units in ending work in process 20% completed. The physical units to be accounted for are:
2. In process manufacturing, the manufacturing input categories include
3. Differences between a job order cost system and a process cost system include all of the following except the
4. A transfer of RM24, 000 from the assembly department to the packaging department would require the entry of a:
5. Process costing is applicable in .....
6. Process costing will be used for all of the following products except:
7. A cost incurred in one processing department that s transferred to the next processing department is called a
8. Under the ..... method there are two categories of completed units; units started and completed during the period and units from beginning inventory
9. The total costs incur in a production process, is divided by total number of output units to calculate the
10. ..... are of relatively smaller / insignificant value.
11. Process costing is applied when
12. A company making identical items through a series of uniform processes uses what costing system?
13. If input unit for Process 1 is 20, 000 unit, a normal loss for 2% of input will be:
14. Input in a process is 4000 units and normal loss is 20%. When finished output in the process is only 3, 240 units, there is an
15. If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
16. The combined direct labor and factory overhead per equivalent unit is called the:
17. Beginning inventory:200 units300 units transferred in150 units transferred outHow many units in ending inventory?
18. Other name for normal loss is
19. A characteristic of products that are mass-produced in a continuous fashion is that..
20. BONUS!!! Who is the Lab lecturer. Your Cost Accounting?
21. Units in a process that are 70% complete are referred to as:
22. Which is not a similarity between job order costing and process costing?
23. The major benefit of the FIFO method is simplicity.
24. Which of the following businesses is likely to adopt a process costing system?
25. When partially completed units are converted to a comparable number of completed units, they are referred to as?
26. An accounting system used to apply costs to similar products that are mass-produced in a continuous fashion.
27. Units were completed this period; 50 units are still in process that are 30% complete. How many total equivalent units were produced?
28. The loss which arises due to abnormal circumstances is ..... loss.
29. In a production cost report, which one of the following sections is not shown under Costs?
30. When manufacturing overhead costs are assigned to production in a process costing system, they are debited to
🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books