Cost Accounting and Control Quiz (2)

Cost Accounting and Control Quiz (2)

University

43 Qs

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Cost Accounting and Control Quiz (2)

Cost Accounting and Control Quiz (2)

Assessment

Quiz

Others

University

Hard

Created by

Diosa Soltes

FREE Resource

43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does COGM stand for?

Cost of Goods Marketing

Cost of Goods Measurement

Cost of Goods Manufactured

Cost of Goods Management

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a component of Total Manufacturing Cost?

Sales Revenue

Manufacturing Overhead Applied

Direct Labor

Direct Materials Used

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary input in a service organization?

Direct materials

Direct labor

Manufacturing overhead

Finished goods

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In job-order costing, how is each job treated?

As a combined cost object

As a separate cost object

As a fixed cost

As a variable cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which industry is an example of job-order costing?

Oil refining

Food canning

Custom furniture

Pharmaceuticals

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main difference between job-order costing and process costing?

Process costing is for unique jobs

Job-order is for homogeneous products

Process costing is for discrete jobs

Job-order is for customized jobs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term 'spoilage' refer to in job-order costing?

Loss of materials

Direct labor costs

Cost of goods sold

Overhead costs

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