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Introduction To Cost Accounting Quiz 12 (25 MCQs)

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1. Job costing is used in
2. Which statement is true about the treatment of abnormal loss?
3. Telephone expense is
4. The total of the materials subsidiary ledger inventory cards must be equal to the amount in the following account:
5. Small tools purchased are
6. In job costing, each job is the _____
7. Difference between attendance time and job time is
8. A total of all the direct costs is known as
9. A company manufactured 500, 000 units of product at a cost of P2, 500, 000. They sold 400, 000 units for P10 each. What is the gross profit?
10. The Information obtained from cost accounts is
11. Is the process of monitoring the company's operations
12. Job order costing would be most appropriate for which of the following industries?
13. If normal output of A process is 1000 units and abnormal wastage is 20 units then the actual output of the process will be
14. Work done on contract and approved by architect or engineer of the contractee is called
15. The principle types of inventories are raw materials and, _____ and finished goods
16. Standard time is 8 hours, actual time taken is 6 hours & time rate is Rs.2 per hour. The total wages under Halsey plan will be
17. Under Emerson's Efficiency Plan, no bonus is payable when efficiency is upto
18. This process involves the conversion of direct (raw) materials, direct labor, and factory overhead into finished goods.
19. Materials issued are priced at the latest purchase in _____
20. J & L Company incurred the following costs:Direct materials P215, 000Conversion costs 435, 000Manufacturing overhead 190, 000Selling and Admin expenses 185, 000What is J & L prime costs?
21. Which accounting provide various tools and techniques in order to assist management in creation of policy and making decisions.
22. Which is a measure to calculate when old employees leave and new employees enter the service of the concern
23. _____ is an important point to be determined in industries where batch costing is employed.
24. Following are the examples of unit measurement in cost accounting, EXCEPT:
25. _____ is an example of fixed cost
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