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Introduction To Cost Accounting Quiz 13 (25 MCQs)

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1. A document which contains information about the materials of specific product, in specific department comes under:
2. In process costing, costs are accumulated by _____
3. Normal cost of normal output of 80 units is rs.400 then value of abnormal wastage of 5 units will be:
4. Which of the following is a fixed cost for an automobile manufacturing plant?
5. A worker is paid Rs. 0.50 per unit and he produces 18 units in 7 hours. Keeping in view the straight-piece rate system, the total wages of the worker would be?
6. Notional profit is computed as _____
7. Which of the following statements is not true about job costing?
8. Differential cost is the difference in
9. The Drive 'n Go Motors sells used cars. Inventory is continuously updated as vehicles are purchased and sold. What type of Inventory control system does Drive 'n Go use?
10. Loss on incomplete contract is transferred to _____ account.
11. Which of the following items is not included in (charged to) factory overhead?
12. Which ONE is PRODUCTION OVERHEAD Cost?
13. The main object of cost accounting is:
14. _____ is in relation to which cost may be ascertained or expressed
15. Which of the following is not an avoidable cause of labour turnover:
16. Total direct labour cost is RM56, 450. Total direct labour hour is 480 hours. What is the direct cost per unit?
17. An example of prime cost is:
18. _____ is the wide term
19. _____ is the smallest segment of activity or area or responsibility for which costs are accumulated.
20. Expired costs are called
21. The wages of the factory janitorial staff should be classified as:
22. Break-down of machinery, strike, lock-outs come under _____ idle time
23. Under Merrick's Differential piece rate system, if the efficiency of a worker is more than 83% but up to 100%, then the applicable piece rate is _____
24. What is a cost unit?
25. Derek Paulate worked 46 hours in one week at a rate of P45 an hour. He is paid one and a half times the regular rate for hours worked in excess of 40. What is the gross earnings of Derek Paulate?
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