Q2 - CH 2..MANUFACTURING COST CONCEPT & COMPONENTS

Q2 - CH 2..MANUFACTURING COST CONCEPT & COMPONENTS

12th Grade

45 Qs

quiz-placeholder

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Q2 - CH 2..MANUFACTURING COST CONCEPT & COMPONENTS

Q2 - CH 2..MANUFACTURING COST CONCEPT & COMPONENTS

Assessment

Quiz

Other

12th Grade

Medium

Created by

Tina Husin

Used 171+ times

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45 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When costs are classified according to traceability to cost object, the cost of direct materials is considered as...

Discretionary Cost

Direct Cost

Product Cost

Committed Cost

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Manufacturing costs that cannot be classified as direct materials or direct labour are classified as manufacturing overhead.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Prime costs are made up of...

Direct Materials Cost + Direct Labour Cost

Direct Labour Cost + Indirect Labour Cost

Factory Overhead + Administrative Cost

Selling & Distribution Cost + Administrative Cost

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Raw materials that can be conveniently and directly associated with a finished product are called materials overhead.

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The main cost that involved in the production of finished goods is known as..

Conversion Cost

Prime Cost

Manufacturing Cost

Indirect Cost

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The cost that indirectly involved in the production of finished goods and cannot easily traced to the products is known as..

Conversion Cost

Period Cost

Manufacturing Overhead

Indirect Cost

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Indirect materials and indirect labour are both inventoriable costs.

TRUE

FALSE

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