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Total Questions : 79 | Page
2
of 8 pages
Question 11.
The cost which is related to specific cost object and cannot be economically traceable is classified as
line cost
staff cost
direct cost
indirect cost
See Solution
Discuss Question
Answer: Option D. ->
indirect cost
Answer:
(d).
indirect cost
Question 12.
In accounting, the cost which is predicted to be incurred or future cost is known as
past cost
incurred cost
actual cost
budgeted cost
See Solution
Discuss Question
Answer: Option D. ->
budgeted cost
Answer:
(d).
budgeted cost
Question 13.
The cost which remains unchanged, in proportion to level the total volume of production is classified as
total cost
infeasible cost
fixed cost
variable cost
See Solution
Discuss Question
Answer: Option C. ->
fixed cost
Answer:
(c).
fixed cost
Question 14.
The process of assigning the indirect costs to any specific cost object is known as
economic cost
cost tracing
cost allocation
non-economic costs
See Solution
Discuss Question
Answer: Option C. ->
cost allocation
Answer:
(c).
cost allocation
Question 15.
In accounting, the resources sacrifice for achieving or fulfill specific objective is known as
source cost
sacrifice cost
treated cost
cost
See Solution
Discuss Question
Answer: Option D. ->
cost
Answer:
(d).
cost
Question 16.
The labor related to the manufacturing of the product can be classified under
direct manufacturing labor costs
indirect manufacturing labor costs
work in process cost
finished costs
See Solution
Discuss Question
Answer: Option A. ->
direct manufacturing labor costs
Answer:
(a).
direct manufacturing labor costs
Question 17.
The direct manufacturing labor costs is added into manufacturing overhead cost to calculate
transaction costs
conversion costs
resale costs
merchandise costs
See Solution
Discuss Question
Answer: Option B. ->
conversion costs
Answer:
(b).
conversion costs
Question 18.
The conversion cost is $2000 and the manufacturing overhead cost is $7000, then the direct manufacturing labor cost will be
$27,000
$13,000
$130,000
$29,500
See Solution
Discuss Question
Answer: Option B. ->
$13,000
Answer:
(b).
$13,000
Question 19.
The direct material costs are added into direct manufacturing costs, to calculate
discuss costs
prime costs
resale cost
merchandise costs
See Solution
Discuss Question
Answer: Option B. ->
prime costs
Answer:
(b).
prime costs
Question 20.
In cost terms, the direct manufacturing labor cost is included in
manufacturing costs
prime costs
conversion costs
both b and c
See Solution
Discuss Question
Answer: Option D. ->
both b and c
Answer:
(d).
both b and c
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