Costing MCQs

Question 1

Health care premium for workers and pension costs are included in

Accepted Answer

payroll fringe costs

Answer

health costs

Answer

premium costs

Answer

workers costs

Question 2

All costs, which are assigned to manufactured products for specific calculations are classified as

Accepted Answer

product cost

Answer

contracting costs

Answer

government costs

Answer

marketing costs

Question 3

If direct material cost is $5500 and prime cost is $25000, then direct manufacturing labour would be

Accepted Answer

$19,500

Answer

$30,500

Answer

$45,500

Answer

$22,500

Question 4

Direct manufacturing labour costs is $40000 and manufacturing overhead cost is $7000, then conversion cost would be

Accepted Answer

$47,000

Answer

$33,000

Answer

$57,000

Answer

$18,000

Question 5

If direct material cost is $85000 and direct manufacturing labour is $25000, then prime cost would be

Accepted Answer

$110,000

Answer

$13,500

Answer

$55,600

Answer

$60,000

Question 6

In costing of project, wages paid to workers for unproductive work at time of material shortage is termed as

Accepted Answer

idle time wages

Answer

indirect wages

Answer

health wages

Answer

shortage time wages

Question 7

Conversion cost is subtracted from direct manufacturing labour cost is to calculate the

Accepted Answer

manufacturing overhead cost

Answer

direct overheads

Answer

overhead costs

Answer

factory overhead

Question 8

An inward delivery charges and custom duties are classified as

Accepted Answer

direct material costs

Answer

direct labour costs

Answer

indirect labour costs

Answer

indirect material costs

Question 9

Supplies, plant maintenance, plant rent, plant insurance and cleaning labour comes under which type of costs?

Accepted Answer

factory overhead costs

Answer

labour costs

Answer

finished costs

Answer

manufacturing costs