
S3 Job Costing
Authored by Chantelle Scott
Business
7th Grade
Used 16+ times

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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of Job Costing?
To calculate the total sales of a company
To calculate the cost of an individual job or task and the selling price to charge the customer
To track the performance of employees
To manage the company's stock inventory
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "VAT" stand for in accounting terms?
Variable Accounting Technique
Value Added Tax
Verified Annual Turnover
Volume Allocation Total
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a "Profit Markup"?
The value of profit the business wishes to make from the individual job/task
The value of loss the business expects to make from the individual job/task
The value of sales the business wishes to make from the individual job/task
The number of sales a business must make to breakeven
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What types of jobs may require a Job Costing Statement? There are 3 correct answers!
TripAdvisor review
A bespoke wedding cake
Painting the exterior of a house
Mechanic work done on a car
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of Job Costing?
Calculating the cost of manufacturing a car.
Calculating the cost of a monthly utility bill.
Quote for a fitted kitchen/landscaping job.
Calculating the cost of producing a movie.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is given to customers as an approximate charge for the workforce required to complete a job?
Material costs
Overheads
Labour
Selling and distribution overheads
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How are overheads applied to each job?
Based on a fixed percentage
Using pre-determined overhead absorption rates
Equally divided among all jobs
Based on the duration of the job
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