Costing MCQs
Practice free Costing multiple-choice questions with instant answer feedback and step-by-step solutions. Click an option to check yourself, reveal the full explanation, and work through all 1419 questions — no login required.
Question 631hard
Considering dual rate method, if employees work for 8500 budgeted hours at $120 per hour and work for 9500 actual hours at $110 per hour, then total cost would be
Question 632hard
Method which determines weights of cost allocation by considering cost of each user as separate entity is known as
Question 633medium
Budgeted total direct labour cost is divided with budgeted total direct labour to calculate
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Question 634medium
Budgeted direct labour hours are multiplied to direct labour cost rate to calculate
Question 635hard
Term which describes assigning of indirect cost to any cost abject is classified as
Question 636medium
A document which contains information about materials of specific product, in specific department comes under
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Question 637hard
If budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be
Question 638medium
An under allocated indirect cost is also called
Question 639hard
In normal costing, situation in which allocated amount of indirect cost is greater than incurred cost, is considered as