
Cost Accounting Term 2 Week 2 AC MC

Quiz
•
Business
•
1st - 5th Grade
•
Medium
Jian Wong
Used 2+ times
FREE Resource
11 questions
Show all answers
1.
OPEN ENDED QUESTION
3 mins • 1 pt
dsdsas
Evaluate responses using AI:
OFF
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under absorption costing, product costs comprise
DM, DL, VFOH, FFOH
DM, DL,VFOH
DM,DL
DL,FFOH
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under marginal costing, product costs comprises
DM,DL,VFOH,FFOH
DM,DL
DM,DL,VFOH
DM,VFOH
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a period whereby the number of units of product produced is the same as the number of units sold,
Net Income under Marginal Costing & Absorption Costing is the same
Net Income under Marginal Costing is higher than Absorption Costing
Net Income under Marginal Costing is lower than Absorption Costing
Depends
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a period whereby the number of units of product produced is higher than the number of units sold,
Net Income under Marginal Costing & Absorption Costing is the same
Net Income under Marginal Costing is higher than Absorption Costing
Net Income under Marginal Costing is lower than Absorption Costing
Depends
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The BCD Company manufactures a single product. The costs per unit are - variable manufacturing costs (DM,DL,VOH) $8, fixed manufacturing (FOH) $6, and variable selling and administrative costs $2. The selling price is $20 per unit. Actual and budgeted fixed overhead is $900,000 for the year. Information about BCD's production activity for the year is provided below:
Sales 125,000 units
Production 150,000 units
Opening Inventory 5,000 units
What is the value of COGS under absorption costing?
$1,750,000
$1,000,000
$1,250,000
$2,000,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The BCD Company manufactures a single product. The costs per unit are - variable manufacturing costs (DM,DL,VOH) $8, fixed manufacturing (FOH) $6, and variable selling and administrative costs $2. The selling price is $20 per unit. Actual and budgeted fixed overhead is $900,000 for the year. Information about BCD's production activity for the year is provided below:
Sales 125,000 units
Production 150,000 units
Opening Inventory 5,000 units
What is the value of under/over-applied FOH under absorption costing?
$150,000
$0
$870,000
$900,000
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