Lecturer Commerce Most Important MCQs Online Test No. 50

Of most relevance in deciding how or which costs should be assigned to a responsibility center is the degree of:

...............is similar to a byproduct that results from a joint manufacturing process.

If a unit of inventory has declined in value below original cost but the market value, exceeds net realizable value the amount to be used for purposes of inventory valuation is:

An inventory costing procedure in which the oldest costs incurred rerely have in effect on the ending inventory is:

A written order sent to inform the purchasing department of a need for materials is called a:

Under a periodic inventory system, the purchase of materials is recorded in an account entitled:

Factory worker fringe benefit costs are usually charged to:

A job order cost sheet normally does not contain which of the following?

The only method of allocation service department costs to producing departments that considers reciprocal services is called the:

The analysis of the activity in a department or cost center for a period is called a:

Which of the following is usually prepared daily by employees for each job worked on?

Which of the following production operations would be most likely to employ a process cost system?

The total of the materials subsidiary ledger inventory card must be equal to the amount in the following account:

Units which do not meet production standards and which are sold for their salvage value ( if any) are called:

A materials requisition form normally does not contain which of the following?

Vacation pay for factory workers should be charged to:

The cost of idle time incurred by employees that is considered normal for the production process should be charged to:

The physical flow of units into and out of department is shown on the:

Which of the following should not be on a monthly cost control report of a department manager?

The method of inventory costing which most nearly approximates the actual flow of costs and units in most manufacturing situations is:

In job order costing, payroll taxes paid by the employer for factory employees are preferably accounted for as:

Depreciation based on the number of units produced would be classified as what type of cost?

Under a perpetual inventory system, the purchase of materials is recorded in an account entitled:

A written request to a supplier for specified goods at an agreed upon price is called a:

Of most relevance in deciding how indirect costs should be assigned to a product is the degree of: