MCQGeeks
0 : 0 : 1
CBSE
JEE
NTSE
NEET
English
UK Quiz
Quiz
Driving Test
Practice
Games
Quiz
Commerce
Cost Concept
Quiz 3
1
2
3
4
5
6
7
8
9
Q.1
Variable costs ..-
Increase in total with the increase in production
Increase per unit with the increase in production
Include prime costs and all factory overheads
Include all manufacturing, administrative and selling and distribution costs
Q.2
The formula for calculating the cost of goods sold for manufacturing company is ..-
Finished goods at beginning of the year + cost of finished goods produced - finished goods at end of the year
Total manufacturing costs + work-in-progress at beginning of the year - work-in-progress at end of the year
Finished goods at beginning of the year + cost of sales - finished goods at end of the year
Finished goods at beginning of the year - cost of finished goods produced - finished goods at end of the year
Q.3
Depreciation on office furniture is considered to be a (an).. -
Administrative costs
Selling and distribution costs
Overhead costs
Negative asset
Q.4
The subtotal, "Cost of goods manufactured" appears on..
a merchandising companies' Statements of Comprehensive Income
both manufacturing and a merchandising companies' Statements of Comprehensive Income
neither manufacturing nor a merchandising companies' Statements of Comprehensive Income
a manufacturing companies' Statements of Comprehensive Income
Q.5
Factory insurance is considered to be a (an).. -
Overhead costs
Prime costs
Administrative costs
Operating income
Q.6
The product cost that is most difficult to associate with a product is..
direct materials.
direct labour.
manufacturing overhead.
advertising.
Q.7
A manufacturing process requires small amounts of glue. The glue used in the production process is classified as a(n)..
period cost.
indirect material.
direct material.
miscellaneous expense.
Q.8
Which one of the following costs would not be inventoriable?
Period costs
Factory insurance costs
Indirect materials
Indirect labour costs
Q.9
Manufacturing costs include..
direct materials and direct labour only.
direct materials and manufacturing overhead only.
direct labour and manufacturing overhead only.
direct materials, direct labour, and manufacturing overhead.
0 h : 0 m : 1 s
1
2
3
4
5
6
7
8
9
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Support mcqgeeks.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page