Accounting MCQs

1590 MCQs (Page 53 of 159)

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If the transferred out total cost is $1850000 and the number of good units (produced), then the cost per good unit transferred out and completed can be __________?

A. 245.1724
B. 255.1724
C. 278.1724
D. 268.1724

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The production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as ____________?

A. Reduced work
B. Spoilage
C. Rework
D. Scrap

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The sum of beginning work in process inventory units and started units, is subtracted from the sum of ending work in process inventory units and transferred out units of goods, to calculate ____________?

A. Gross weighted spoilage
B. Inventoriable spoilage
C. Partial spoilage
D. Total spoilage

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The types of spoilage include ___________?

A. Normal spoilage
B. Abnormal spoilage
C. Weighted spoilage
D. Both a and b

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The units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate ____________?

A. Normal spoilage rates
B. Abnormal spoilage rates
C. Normal scrap rates
D. Abnormal scrap rates

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The type of spoilage, which is considered as controllable and can be avoided is called _____________?

A. Abnormal spoilage
B. Normal spoilage
C. Transferred-in spoilage
D. Transferred-out spoilage

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The partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called ____________?

A. Spoilage
B. Rework
C. Scrap
D. Equivalence

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The cost of abnormal spoilage is not treated as _____________?

A. Conversion costs
B. Sunk costs
C. Inventoriable costs
D. Non inventoriable costs

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Total transferred-out cost plus normal spoilage is divided by number of goods units produced, to calculate ___________?

A. Cost per good units transferred out
B. Cost per good units transferred in
C. Revenue per good units transferred out
D. Revenue per good units transferred in

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If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be ____________?

A. 1200 units
B. 990 units
C. 1100 units
D. 1000 units

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