revision element of cost

a)                   Definition of costing is the ascertainment of costs.  This includes the ................................. and .......................................... of ascertaining costs.

Cost accounting applies any measurement unit that is useful in a particular situation; such as

• labour hour

  machine hour

  money

  output units

• money only

• money and machine hour only

• labour hour

  machine hour

identify element in Prime Cost

• direct material

  indirect material

  direct labour

• direct material

  direct labour

  direct expenses

• direct labour

  production overhead

  direct expenses

• direct material

  direct labour

  indirect labour

In furniture making, choose the direct material use in making a school table

• woods

  nail

  sand paper

• woods

  paint

  nail

• varnish

  woods

  timber

• paint

  nail

  sand paper

Identify this type of expenses either prime cost or production overhead. A chocolate chip use in producing a chocolate cake is group under:

identify this type of cost either variable cost or fixed cost: Salesman commission

calculate product cost for product AC02

direct material RM 200

direct labour RM150

factory overhead RM 100

admin overhead RM 80

selling overhead RM 50

calculate prime cost for product AP01

direct material RM 250

opening stocks direct material 400

direct labour 100

carriage inwards RM 30

production overhead 450

closing stocks finished goods 120

opening stock of inventory is 1000 units

company produced 8000units

closing stock at the end of the period is 2000units

how many unit sold?

in cost sheet statement, Royalty on production will be group under :

• production overhead

• admin overhead

• sales & distribution overhead

• prime cost