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MCQs

Total Questions : 107 | Page 4 of 11 pages
Question 31. The method of inventory costing, in which all variable and fixed manufacturing cost is considered as inventoriable cost can be termed as
  1.    absorption costing
  2.    variable costing
  3.    fixed costing
  4.    manufacturing cost
 Discuss Question
Answer: Option A. -> absorption costing
Answer: (a).absorption costing
Question 32. The difference between absorption and variable costing is the accountability of
  1.    direct overhead
  2.    indirect overhead cost
  3.    fixed manufacturing cost
  4.    variable manufacturing cost
 Discuss Question
Answer: Option C. -> fixed manufacturing cost
Answer: (c).fixed manufacturing cost
Question 33. If the total sales are $355000, the beginning inventory is $23000 and the ending inventory is $15000, then total production would be
  1.    $363,000
  2.    $463,000
  3.    $393,000
  4.    $493,000
 Discuss Question
Answer: Option A. -> $363,000
Answer: (a).$363,000
Question 34. Another name of super-variable costing is
  1.    throughput costing
  2.    unit costing
  3.    batch costing
  4.    manufacturing costing
 Discuss Question
Answer: Option A. -> throughput costing
Answer: (a).throughput costing
Question 35. Direct material cost of sold goods is subtracted from revenues to calculate
  1.    accrual contribution
  2.    indirect contribution
  3.    throughput contribution
  4.    direct contribution
 Discuss Question
Answer: Option C. -> throughput contribution
Answer: (c).throughput contribution
Question 36. The standard cost of allocation base, allowed to output achieved, is multiplied to standard variable overhead rate is to calculate
  1.    indirect manufacturing overhead cost
  2.    direct manufacturing overhead cost
  3.    fixed manufacturing overhead cost
  4.    variable manufacturing overhead cost
 Discuss Question
Answer: Option D. -> variable manufacturing overhead cost
Answer: (d).variable manufacturing overhead cost
Question 37. An income statement in absorption costing follows the format of
  1.    inventory margin
  2.    sales margin
  3.    Gross margin
  4.    production margin
 Discuss Question
Answer: Option C. -> Gross margin
Answer: (c).Gross margin
Question 38. The budgeted variable overhead rate, is multiplied to an actual quantity of allocation base, is to calculate variable manufacturing cost of overheads in
  1.    direct costing method
  2.    indirect costing method
  3.    actual costing method
  4.    normal costing method
 Discuss Question
Answer: Option D. -> normal costing method
Answer: (d).normal costing method
Question 39. In two of the methods of costing, the operating income will be different if the
  1.    fixed cost does not change
  2.    inventory changes
  3.    inventory does not change
  4.    fixed cost changes
 Discuss Question
Answer: Option B. -> inventory changes
Answer: (b).inventory changes
Question 40. An actual quantity of input use is multiplied to actual prices, to calculate direct variable manufacturing cost in
  1.    actual costing method
  2.    normal costing method
  3.    direct costing method
  4.    indirect costing method
 Discuss Question
Answer: Option A. -> actual costing method
Answer: (a).actual costing method

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