WorksheetsCost Accounting 1 Quiz
Total questions: 10
Worksheet time: 5mins
Prime cost can be define as:
The total costs of manufacturing a product
The total direct cost of manufacturing a product
The total cost of operating the production department where the product is
The total cost of Direct Material and Direct labour
One of the below is not an element of the manufacturing cost
Factory Overheads
Direct material
Auditing Expense
Direct labour
The Non-manufacturing cost consist of
Marketing expense, Indirect material and Marketing expense
Indirect labour, Indirect material and Marketing expense
Marketing expense, Administration Expense and selling expense
Direct material direct labour and manufacturing overheads
One of the following is not an Ethics of cost and management accounting
Loyalty
Transparency
Beauty
Respect
An example of manufacturing overheads cost would be:
Office Rent
Raw material used in production
Indirect material
Advertising expense
Fixed cost per unit is R9 when 20 000 units are produced, and R6 When 30 000 units are produced.
What is the total fixed cost when nothing is produced?
R120 000
R270 000
R150 000
R180 000
Buddy uses the High-low method of estimating costs. Bud had total cost of R50 000 at it's lowest level of activity, when 5000 units where sold. When at it's highest level of activity, sales equalled 12 000 units, total cost were R78 000.
Bud would estimate variable cost per unit as
R10.00
R6.50
R4.00
R7.53
A Cost that remains constant regardless of out-put is a
Variable cost
Fixed cost
Product cost
Period cost
Marketing cost is an example of
Manufacturing cost
Non-manufacturing cost
Direct labour
Indirect labour
Management accounting is used by
Shareholder
Internal manager
Employees
Non-of the above
