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Introduction To Cost Accounting Quiz 2 (25 MCQs)

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1. What direct labour cost would be traced to client 457 if Siti Aafiyah works 1 week (5 days) to prepare client 457's financial statements?
2. The information provided by financial statements is _____ in nature.
3. Sales-Php100, 000, VC-Php80, 000, Fixed Cost-Php10, 000. How much is Operating Leverage
4. Replacement price method is
5. The benefit given up when one alternative is chosen over another.
6. _____ is used primarily for control of spare parts.
7. Which of the following statements is NOT true about contract costing?
8. According to CIMA, England, "the technique and process of ascertaining cost" is called
9. Based on historical transaction data.
10. Merchandise Inventory is on the income statement as:
11. Materials issue are priced by dividing the total cost of material in stock by the total quantity of materials is called _____ method
12. Under which method both the number of workers left/discharged and the number of workers replaced during the period are considered
13. Calculate cost per machine hour for 3FSB.
14. Re-ordering level = Maximum consumption x _____
15. Which of the following expenses is not operating expenses
16. Factory overheads do not include the following:
17. How much is the selling and administration cost for Client 457?
18. Fancy packing is an example of _____ expenses.
19. If an overhead cost of operating a machine is RM1, 000, 000 for 200, 000 hours, then the cost allocation rate will be:
20. A company has to pay RM10, 000 per unit royalty to the designer of a product which it manufactures and sells. The royalty charge would be classified as a
21. Loss of material due to fire is treated as
22. Cost accounting plays little role in _____
23. Indicate which of the following fall under the category methods of costing-
24. A cost which is unaffected in total by increases or decreases in the volume of output is called
25. A cost that remains constant in total but varies on a per-unit basis with changes in activity is called a
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