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Introduction To Cost Accounting Quiz 8 (25 MCQs)

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1. Overhead costs have been increasing due to all of the following EXCEPT:
2. The following are the inventories in Manufacturing, except
3. Ben's Barbershop balance sheet contains no inventory account. How would this company be classified?
4. Cost of idle time due to non-availability of raw material is
5. Ascertainment of cost with the help of actual expenses incurred in the past termed as..
6. Primary users are internal managers
7. Which of the following is not taken into account while calculating quick ratio
8. Pareto's Law is concerned with
9. Imputed cost is a
10. Which of the following is / are time based incentive wage plan?
11. The Bead Boutique offers hand crafted jewelry for sale. The owner counts inventory only once per year. What type of inventory control system does the Bead Boutique use?
12. Variance if the actual costs is less than the budget
13. In the determination of factory overhead application rates, the numerator of the formula is the:
14. What is the total production cost for Job 123?
15. "The amount of expenditure (actual or notional) incurred or attributable to a given thing" is
16. Economic batch quantity is used in batch costing to
17. Calculate EBQ if annual demand is 24000 units, Set up cost per batch is Rs. 120 and carrying cost per unit is Rs. 0.36.
18. In marginal costing method, sale price is fixed on the basis of variable cost
19. Suraya entitled to get overtime at 60% premium. She worked 6 hours for overtime and her basic rate is RM10 per hour. How much the overtime pay for Suraya?
20. Process costing is suitable for _____
21. J & L Company incurred the following costs:Direct materials P215, 000 Conversion costs 435, 000 Manufacturing overhead 190, 000 Selling and Admin expenses 185, 000J & L total manufacturing costs is?
22. Production order with respect to a job is issued by department.
23. A bill of material serves the purpose of _____
24. _____ is recording of business transactions in the books of accounts
25. Work certified is valued at _____ price.
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