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MCQs

Total Questions : 163 | Page 12 of 17 pages
Question 111. 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
  1.    1200 units
  2.    990 units
  3.    1100 units
  4.    1000 units
 Discuss Question
Answer: Option C. -> 1100 units
Answer: (c).1100 units
Question 112. The costing, which explains how and when scrap affects the operating income of company is classified as
  1.    inventory costing
  2.    conversion costing
  3.    normal scrap costing
  4.    abnormal scrap costing
 Discuss Question
Answer: Option A. -> inventory costing
Answer: (a).inventory costing
Question 113. The residual material which results from manufacturing products is called
  1.    reduced work
  2.    spoilage
  3.    rework
  4.    scrap
 Discuss Question
Answer: Option D. -> scrap
Answer: (d).scrap
Question 114. The cost of abnormal spoilage is not treated as
  1.    conversion costs
  2.    sunk costs
  3.    inventoriable costs
  4.    non inventoriable costs
 Discuss Question
Answer: Option D. -> non inventoriable costs
Answer: (d).non inventoriable costs
Question 115. An amount of spoilage that is natural in any particular production process is classified as
  1.    normal scrap
  2.    normal spoilage
  3.    abnormal spoilage
  4.    weighted spoilage
 Discuss Question
Answer: Option B. -> normal spoilage
Answer: (b).normal spoilage
Question 116. If the units of normal spoilage are 150 and the total good units manufactured are 1500, then the normal spoilage rate would be
  1.    14%
  2.    15%
  3.    10%
  4.    12%
 Discuss Question
Answer: Option C. -> 10%
Answer: (c).10%
Question 117. The type of spoilage, which is considered as controllable and can be avoided is called
  1.    abnormal spoilage
  2.    normal spoilage
  3.    transferred-in spoilage
  4.    transferred-out spoilage
 Discuss Question
Answer: Option A. -> abnormal spoilage
Answer: (a).abnormal spoilage
Question 118. Total transferred-out cost plus normal spoilage is divided by number of goods units produced, to calculate
  1.    cost per good units transferred out
  2.    cost per good units transferred in
  3.    revenue per good units transferred out
  4.    revenue per good units transferred in
 Discuss Question
Answer: Option A. -> cost per good units transferred out
Answer: (a).cost per good units transferred out
Question 119. The hierarchy which is based on different types of cost allocation and drivers, to categorize cost pool activity is classified as
  1.    cost hierarchy
  2.    price hierarchy
  3.    activity hierarchy
  4.    purpose hierarchy
 Discuss Question
Answer: Option A. -> cost hierarchy
Answer: (a).cost hierarchy
Question 120. If the net initial investment is $985000, returned working capital is $7500, then an average investment over five years will be
  1.    $596,300
  2.    $485,300
  3.    $496,250
  4.    $486,250
 Discuss Question
Answer: Option C. -> $496,250
Answer: (c).$496,250

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