This quiz works best with JavaScript enabled. Home > Introduction > Introduction To Cost Accounting > Introduction To Cost Accounting – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Introduction To Cost Accounting Quiz 6 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The practice of charging all costs, both variable and fixed, to operations, processes or product is known as A) Uniform costing. B) Absorption costing. C) Marginal costing. D) Historical costing. Show Answer Correct Answer: B) Absorption costing. 2. For identification, each job or work order received from a customer is allotted a A) Production order. B) Batch number. C) Job number. D) Code number. Show Answer Correct Answer: C) Job number. 3. A cost that changes in total dollar amount with the change in the level of activity is known as: A) Variable cost. B) Fixed cost. C) Semi variable cost. D) Step cost. Show Answer Correct Answer: A) Variable cost. 4. Which one of the following is least likely to be an objective of cost accounting system? A) Product Costing and Inventory Valuation. B) Sales Commission Determination. C) Department Efficiency. D) Income Determination. Show Answer Correct Answer: B) Sales Commission Determination. 5. How much the company charge client 457? A) RM 8, 460.33. B) RM 4, 680.33. C) RM 6, 480.33. D) RM 8, 640.33. Show Answer Correct Answer: D) RM 8, 640.33. 6. The techniques and the process of ascertaining costs is known as A) Cost accounting. B) Cost accountancy. C) Costing. D) Cost. Show Answer Correct Answer: C) Costing. 7. Managerial accounting is a provision of information to the ..... A) Internal parties. B) External parties. C) Statutory bodies. D) Current and potential investors. Show Answer Correct Answer: A) Internal parties. 8. The quantity of material to be ordered at one time is known as ..... A) Ordering quantity. B) Commercial order quantity. C) Economic order quantity. D) None of these. Show Answer Correct Answer: A) Ordering quantity. 9. What type of users does managerial accounting focus on? A) Lenders. B) Potential Investors. C) Company management. D) Current Investors. Show Answer Correct Answer: C) Company management. 10. Calculate fixed production overhead costs per unit: A) RM 4.00 per unit. B) RM 5.00 per unit. C) RM 6.00 per unit. D) RM7.00 per unit. Show Answer Correct Answer: C) RM 6.00 per unit. 11. ..... is a technique of material cost control which leads to low carrying cost as a result of low investment in inventory A) ABC Analysis. B) JIT Inventory System. C) VED Analysis. D) Perpetual Inventory System. Show Answer Correct Answer: B) JIT Inventory System. 12. ..... is a group of identical products. A) Job. B) Batch. C) Process. D) Contract. Show Answer Correct Answer: B) Batch. 13. The sum of Total Manufacturing Cost and work in process, beginning equals: A) Cost of goods sold. B) Cost of goods available for sale. C) Cost of goods manufactured. D) Cost of goods placed in process. Show Answer Correct Answer: D) Cost of goods placed in process. 14. Factory rent is a part of ..... A) Prime cost. B) Distribution overhead. C) Selling overhead. D) Factory overhead. Show Answer Correct Answer: D) Factory overhead. 15. Cost centres are created for A) Segregating costs into fixed and variable. B) Control and fixing responsibility. C) Making decisions. D) Ascertaining profit. Show Answer Correct Answer: B) Control and fixing responsibility. 16. Warehouse rent is a part of A) Prime cost. B) Distribution overhead. C) Selling overhead. D) Factory overhead. Show Answer Correct Answer: B) Distribution overhead. 17. The branch of accounting is A) Financial accounting. B) Management accounting. C) Cost accounting. D) All of above. Show Answer Correct Answer: D) All of above. 18. Calculate cost per direct labour hour for 3FSB. A) RM 10.00. B) RM 20.00. C) RM 30.00. D) RM 40.00. Show Answer Correct Answer: A) RM 10.00. 19. The rent of a factory is classed as what type of cost? A) Direct Labour. B) Indirect Expense. C) Direct Expense. D) Indirect Material. Show Answer Correct Answer: B) Indirect Expense. 20. Total Cost-marginal cost = A) Fixed Cost. B) Variable Cost. C) Total Cost. D) None of the above. Show Answer Correct Answer: A) Fixed Cost. ← PreviousNext →Related QuizzesIntroduction QuizzesIntroduction To Cost Accounting Quiz 1Introduction To Cost Accounting Quiz 2Introduction To Cost Accounting Quiz 3Introduction To Cost Accounting Quiz 4Introduction To Cost Accounting Quiz 5Introduction To Cost Accounting Quiz 7Introduction To Cost Accounting Quiz 8Introduction To Cost Accounting Quiz 9Introduction To Cost Accounting Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books