Tag: Financial Accounting Mcqs

(A) Total number of units produced divided by the total cost centre overheads.
(B) Total number of units produced multiplied by the unit overhead cost.
(C) otal cost centre overheads divided by the cost centre activity level.
(D) Total indirect costs for the business divided by the total number of units produced.

(A) Supervisors‘ salaries in the factory.
(B) Costs of the payroll accounting section.
(C) A bonus paid to the storeman.
(D) The wages of an operative paid on the basis of output achieved.

(A) Standard costing.
(B) Unit cost.
(C) Marginal cost.
(D) Continuous weighted average.

(A) The issue price is recalculated each time new deliveries are made into stock.
(B) The issue price is always at the latest price.
(C) The goods are always issued strictly in the physical order in which they are received.
(D) The issue price is always at the earliest price.

(A) The metal used to manufacture it.
(B) The metal used to manufacture one of the tools used in the car wheel factory.
(C) The cost of operating the raw material stores in the factory.
(D) The cost of the quality operation on the finished car wheels.

(A) Formula Method
(B) Table Method
(C) Graph Method
(D) All of the given

(A) To determine the costs of producing each job or lot
(B) To compute the cost per unit
(C) To include separate records for each job to track the costs
(D) All of the given option.

(A) The quantity below which the stock of any item should not be allowed to fall
(B) The quantity below which the stock of any item should be allowed to fall
(C) The estimated time period in number of days or in weeks or in months.
(D) The Lead time period in number of days or in weeks or in months.