Cost Accounting Quizzes, Questions & Answers

Recent Cost Accounting Quizzes

In today’s class we covered how to correct misallocations of overhead cost and journal entries in a manufacturing account. The test below is designed to test how well you understood out previous class and if you can...

Questions: 12 | Attempts: 521 | Last updated: Mar 21, 2023

Sample Question
If manufacturing overhead has been underallocated during the period, and most of the jobs produced have been sold, then:

Cost of goods sold should be decreased

Cost of goods sold should be increased

Finished goods inventory should be increased

Work in process inventory should be decreased

Accounting 202 Exam: Practice Quiz!

The 'Accounting 202 Exam: Practice Quiz!' assesses key skills in cost accounting, including calculating overhead rates, understanding manufacturing overhead, and job costing. It is designed for learners aiming to enhance their...

Questions: 11 | Attempts: 324 | Last updated: Mar 19, 2023

Sample Question
How do you calculate the predetermined manufacturing overhead rate used to allocate manufacturing overhead costs?

. By dividing the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

By dividing the total estimated amount of the allocation base by the total estimated manufacturing overhead costs

By dividing the total estimated manufacturing overhead costs by the total actual amount of the allocation base

By multiplying the total estimated manufacturing overhead costs by the total estimated amount of the allocation base

Accounting 202: Trivia Quiz! Exam

During the manufacturing of a product, different factors go into choosing what input to use during manufacturing a product. Take up this quiz on overhead costs when it comes to job costing and see if you are prepared for the...

Questions: 11 | Attempts: 997 | Last updated: Mar 21, 2023

Sample Question
Which comes third in the flow of costs?

Cost of goods sold

Finished goods inventory

Raw materials inventory

Work in process inventory

Cost Concepts And Principles II

Cost Concepts and Principles II

The 'Cost Concepts and Principles II' quiz assesses understanding of various costing methods suitable for different scenarios, such as interior decorating and hospitals, and explores different types of costs like historical,...

Questions: 10 | Attempts: 704 | Last updated: Mar 20, 2023

Sample Question
Which method of costing is best suited for interior decorator ?

A. job costing

B. contract costing

C. process costing

D. operating costing.

Activity Based Costing-final Exam

Activity Based Costing-Final exam

This final exam on Activity Based Costing for Teksize and Shauton companies tests the application of ABC in allocating costs based on setups, labor hours, and other activities. It assesses understanding of traditional costing vs....

Questions: 10 | Attempts: 124 | Last updated: Jul 21, 2024

Sample Question
(Untuk soal no 1 -3) Teksize company makes two products, regular and large, using the same equipment. One production run of each product is scheduled approximately each week. Teksize uses a costing system that accumulates all overhead in a single cost pool and allocates it based on direct labor hours. Teksizes management has decided to implement ABC, and has just finished a study that revealed significant amounts of costs related to the number of setups. Direct labor hour will still be used as the allocation base for the remaining overhead cost. Information concerning teksize company most recent year of operational: Regular Large Total Unit Produced 10.000 10.000 20.000 Direct material cost Per unit Total $1 $10.000 $4 $40.000 $50.000 Direct Labor Hours per unit Total Hours Total Cost 1 10.000 $120.000 4 40.000 $480.000 50.000 $600.000 Setup 51 52 103 Overhead: Setup related $515.000 other $985.000 Total overhead $1.500.000 Berapakah overhead yang dialokasikan ke pada produk reguler dan large menggunakan traditional costing?

400.000; 500.000

515.000; 985.000

300.000; 1.200.000

515.000; 985.000

Cost Accounting Quiz Questions

Cost Accounting Quiz questions

This Cost Accounting Quiz assesses knowledge on variance analysis, budgeting processes, and production efficiency assumptions. It tests skills in planning, performance evaluation, and continuous improvement, crucial for effective...

Questions: 11 | Attempts: 1115 | Last updated: Jul 31, 2024

Sample Question
W

The variance is large in absolute or relative size.

The variance is small relative to the amount of spending involved.

The variance is small compared to the normal level of random fluctuation in the account.

The variance is common in occurrence.

Accounting Quiz 1 Chapters 1-2

accounting quiz 1 chapters 1-2

Different costs are incurred during the manufacturing of products and are transferred to the consumer in the process. Do you have a good understanding of this cost and how do we account for them as accountants? Take up the...

Questions: 20 | Attempts: 159 | Last updated: Mar 19, 2023

Sample Question
What's another name for manufacturing costs?

Prime

Period

Product

Conversion

Cost Accounting Trivia Questions

Cost accounting trivia questions

This 'Cost Accounting Trivia Questions' quiz assesses knowledge on key cost accounting concepts, including direct labor, contribution margins, conversion costs, and inventory costs. It's designed for learners to understand...

Questions: 10 | Attempts: 7416 | Last updated: Sep 15, 2023

Sample Question
Which one of the following best describes direct labor?

A prime cost.

A period cost.

A product cost.

Both a product cost and a prime cost.

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