This quiz works best with JavaScript enabled. Home > Accounting > Cost Accounting > Process Costing > Process Costing – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Process Costing Quiz 4 (11 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. BONUS!!! How old is Ko Hadi? A) 17 years. B) 21 years. C) 19 years old. D) 20 years. Show Answer Correct Answer: A) 17 years. 2. Scrap value of normal loss is ..... to process account. A) Credited. B) Not recorded. C) Debited. D) Ignored. Show Answer Correct Answer: A) Credited. 3. What report shows equivalent units of production, costs, and assignment of costs for a department? A) Production cost report. B) Equivalent units report. C) TPS report. D) Job costing report. Show Answer Correct Answer: A) Production cost report. 4. There are 1, 000 units in process at the end of the period. They are 40% complete with respect to conversation. Direct materials are added at the end of the process. How many EUP for direct materials? A) 400. B) 0. C) 600. D) 1, 000 $ 1, 000\times0%=0$. Show Answer Correct Answer: B) 0. 5. An item of low value incidentally arising in a process is called ..... A) Joint product. B) Scrap. C) Waste. D) By-product. Show Answer Correct Answer: D) By-product. 6. BONUS!!! How much does Ko Hadi weigh? A) 60kg. B) 70kg. C) 40kg. D) 50kg. Show Answer Correct Answer: A) 60kg. 7. Costs that were incurred in a previous department that are brought into this department as part of a product's cost are A) Costs accounted for. B) Transferred-in costs. C) Transferred-out costs. D) Costs to account for. Show Answer Correct Answer: B) Transferred-in costs. 8. BONUS!!!How many ex Ko Hadi? A) 2. B) 1. C) 7. D) 0. Show Answer Correct Answer: D) 0. 9. Gloria Company had no beginning work in process. During the period, 16, 000 units were completed, and there were 1, 200 units of ending work in process. How many units were started into production? A) 16, 000. B) 14, 800. C) 1, 200. D) 17, 200. Show Answer Correct Answer: D) 17, 200. 10. In a process costing system loss might be: A) Normal. B) Abnormal. C) Both normal loss & abnormal loss. D) NONE. Show Answer Correct Answer: C) Both normal loss & abnormal loss. 11. Which of the following is NOT a characteristic of a process costing system? A) Process costing calculates production costs per department/section. B) Products produced according to consumer orders. C) The resulting product is the same and occurs continuously or continuously. D) None of above. Show Answer Correct Answer: B) Products produced according to consumer orders. ← PreviousRelated QuizzesCost Accounting QuizzesAccounting QuizzesProcess Costing Quiz 1Process Costing Quiz 2Process Costing Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books