Accounting MCQs

1590 MCQs  (Page 55 of 159)

Attempt Accounting MCQs Quiz
The third step in process costing system is to ____________?
A. Summarize flow of output
B. Compute output in units
C. Summarize total costs
D. Compute cost for each equivalent unit
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If the total incurred cost in a production process are $30000 and the number of output units are 5000 units, then the units cost will be __________?
A. $16
B. $60
C. $6
D. $26
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The costing method, which calculates per equivalent unit cost of all the production related work done, till calculated date is termed as __________?
A. Weighted average method
B. Net present value method
C. Gross production method
D. Net present value method
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The second step in processing costing system is to ___________?
A. Summarize total costs
B. Compute cost for each equivalent unit
C. Summarize flow of output
D. Compute output in units
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The forth step in process costing system is to __________?
A. Summarize total costs
B. Compute cost for each equivalent unit
C. Summarize flow of output
D. Compute output in units
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The costs that are incurred in last department, where the product has been processed and will be carried to next department for further processing are called __________?
A. Partial work costs
B. Transferred-in costs
C. Transferred-out costs
D. Weighted average costs
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The fifth step in process costing system is to ___________?
A. Allocate separable costs
B. Allocate joint costs
C. Compute gross margin
D. Assign total cost to completed units
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The cost of previous department is a part of ____________?
A. Transferred-in costs
B. Transferred-out costs
C. Fifo costs
D. Lifo costs
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If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are _____________?
A. 1800 units
B. 1500 units
C. 1300 units
D. 1500 units
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If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and units completed in current period are 4000, then ending work in process equivalent units will be ___________?
A. 1800 units
B. 2300 units
C. 10300 units
D. 1500 units
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Word of the Day
16 Jul
Volatile
(of a substance) easily evaporated at normal temperatures.
بدلتے مزاج والا، کافور صفت

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