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Total Questions : 79 | Page
8
of 8 pages
Question 71.
If the conversion cost is $25000 and direct manufacturing labor cost is $17000, then the manufacturing overhead cost would be
$14,700
$68,000
$8,000
$42,000
See Solution
Discuss Question
Answer: Option C. ->
$8,000
Answer:
(c).
$8,000
Question 72.
The wages paid to workers of the factory are termed as
workers premium
overtime premium
factory premium
wage premium
See Solution
Discuss Question
Answer: Option B. ->
overtime premium
Answer:
(b).
overtime premium
Question 73.
In the income statement of merchandising costs, the period cost includes all costs which are not related to
cost of resale goods
cost of manufacturing goods
timed resale of goods
cost of purchased goods
See Solution
Discuss Question
Answer: Option D. ->
cost of purchased goods
Answer:
(d).
cost of purchased goods
Question 74.
An overtime is considered in cost accounting as
indirect costs
overhead costs
premium costs
both a and b
See Solution
Discuss Question
Answer: Option D. ->
both a and b
Answer:
(d).
both a and b
Question 75.
The cost, which is related to specific cost object and economically traceable, will be classified as
direct cost
indirect cost
line cost
staff cost
See Solution
Discuss Question
Answer: Option A. ->
direct cost
Answer:
(a).
direct cost
Question 76.
The material or anything for which cost is to be measured is known as
measurement object
cost object
accounting object
budget object
See Solution
Discuss Question
Answer: Option B. ->
cost object
Answer:
(b).
cost object
Question 77.
The process of tracing the direct costs and allocation of indirect costs is known as
cost assignment
direct assignment
indirect assignment
economic assignment
See Solution
Discuss Question
Answer: Option A. ->
cost assignment
Answer:
(a).
cost assignment
Question 78.
The cost which is changed in proportion to level the total volume is
fixed cost
variable cost
total cost
infeasible cost
See Solution
Discuss Question
Answer: Option B. ->
variable cost
Answer:
(b).
variable cost
Question 79.
The costs are classified as fixed or variable on the basis of
specific activity
given time period
common activity
both a and b
See Solution
Discuss Question
Answer: Option D. ->
both a and b
Answer:
(d).
both a and b
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