Costing Introduction

Costing Introduction

University

5 Qs

quiz-placeholder

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Costing Introduction

Costing Introduction

Assessment

Quiz

Education

University

Hard

Created by

Kaung Myat

Used 3+ times

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5 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Media Image

The two basic types of costs incurred by businesses are

Overhead costs

Variable costs

Operating Costs

Management Costs

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Any employees who work on salary count as

variable cost

fixed cost

3.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Media Image

The key elements included in the production costs are

Purchase of raw material

audit fees

advertising costs

wages on labor

administration expenses

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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How do you find the total cost?

Total Revenue - Total Expenses = Total cost

fixed costs + variable costs = total cost

Overhead costs-direct costs=Total costs

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Media Image

How can costing help your business?

You can set the price

New business plans can be made for the future

Reduce unnecessary costs

Increase sales