Elements of Costing unit recap

The cost is increasing inline with the increased production levels this is a?

• Fixed cost

• Stepped cost

• Variable cost

• Semi-variable cost

The closing inventory balance is not valued at either the most recent or oldest price the method is?

• AVCO

• LIFO

• FIFO

Which of these is not a method of absorbing overheads?

• Per machine hour

• Per labour hour

• Per unit

• Per kilo of material

What is prime cost?

• Direct Materials + Direct Labour

• Direct Materials + Indirect Materials + Indirect Expenses

• Direct materials + Direct labour + Direct Expenses

• Direct Costs + Indirect Costs

Which of these is not a function of management accounting?

• Paying supplier invoices

• Control

• Decision making

• Planning

Facory supervisors wages is?

• Administration cost

• Production cost

• Selling and distribution cost

• Finance cost

Manufacturing cost is?

• Prime Cost + Manufacturing Overheads

• Prime Cost + Finished Goods

• Cost of Goods Manufactured + WIP

• Raw Materials Used + Direct Labour