WorksheetsQuiz 3 CTB Units 1 and 2
Total questions: 10
Worksheet time: 3mins
Prime cost is
cost incurred in the production cost centres
cost incurred in the manufacturing of a product
total of material cost and direct wages
direct cost incurred in the manufacturing of a product
Production overheads includes all the following except
production wages
factory maintenance expense
indirect materials
normal loss in stores
Copyright paid for the use of a particular designed plastic bottle is classified as
indirect expense
direct expense
marketing overhead
factory overhead
Stamford Tyre Company ordered 5 tons of rubber latex from Malaysia and incurred the following cost.
Cost of rubber latex = $200,000
Insurance and freight = $3,000
Secondary packing materials = $1,000
Customs duty = $2,000
Find total direct material cost
$200,000
$203,000
$204,000
none of the above
When prices are falling, closing raw material cost will be higher under
FIFO method
LIFO method
Weighted Average method
Identify the secondary packing material.
cola drink
cardboard box
glass bottle
cap
Non-production cost consist of all the following except
financial overheads
marketing overheads
prime cost
admin overheads
Production cost include the following
Direct materials
Direct wages
Primary packing cost
Prime cost
Production overheads
Direct materials
Direct wages
Direct expenses
Production overhead
Admin overheads
Marketing overheads
Financial overheads
Abnormal loss of materials and goods is an example of
Admin overheads
Marketing overheads
Material cost
Production overheads
Choose an example of financial overhead.
commission paid for bank draft
bank charges
legal fees to buy a factory
bank overdraft interest
