Cost Management Quizzes, Questions & Answers
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Take this project cost management principles quiz today in order to test your knowledge and find out how well you know these basic concepts and theories. This test is designed in a manner so as to offer a wide range of...
Questions: 38 | Attempts: 18780 | Last updated: Mar 22, 2025
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Sample QuestionWhat is the total of direct and indirect costs incurred in accomplishing work on an activity during a given period known as?
This 'Accounting Quiz: Practice Exam!' assesses key skills in cost management using the high-low method. It covers variable and fixed cost calculations, use of Excel for cost data, and identification of cost types, enhancing...
Questions: 25 | Attempts: 1060 | Last updated: Aug 22, 2025
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Sample QuestionBased on the information in Table M5-2, assuming Laramie Tack & Saddle uses the high-low method to separate mixed costs, if the company processes 4,100 packages during July, the total variable cost will be:
When you are preparing a project, it is important to have a laid out plan of what you plan to accomplish with the project and how you aim to do so. When it comes to project cost management, it is important to ensure that keep...
Questions: 25 | Attempts: 4209 | Last updated: Mar 22, 2025
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Sample QuestionWhich of the following best describes analogous estimating?
Dive into the essentials of process and job costing with the 'Accounting 202 Chapter 5 Quiz! Test'. This quiz assesses understanding of cost transfers between departments, appropriate costing systems for different production...
Questions: 28 | Attempts: 631 | Last updated: Mar 20, 2025
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Sample QuestionWhen units are moved from one processing department to the next, the cost associated with those units must also be moved from one WIP account to the next. These costs are called:
Calculating costs involves during manufacturing can help a company not where most of the money in the process goes to. How improved are your skills of calculating these costs? The quiz below is designed to answer just that....
Questions: 14 | Attempts: 450 | Last updated: Sep 5, 2025
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Sample QuestionThe full-time employees at Percy Enterprises work 8 hours per day, while the part-time employees work 4 hours per day. Percy has 2,000 full-time employees and 800 part-time employees. What is the number of full-time equivalent employees?
Recent Cost Management Quizzes
Explore strategic approaches to cost management in this focused assessment. Enhance your understanding of cost control, efficiency, and strategic decision-making processes. Ideal for professionals and students in business...
Questions: 29 | Attempts: 11 | Last updated: Aug 4, 2025
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Sample QuestionWhat are the key aspects of new approaches to managing cost and quality?
The changes in cost and volume of the output have an effect on the company’s operating and net income. We have already covered what there is on calculation and effect of these changes to the organization. The quiz below...
Questions: 30 | Attempts: 349 | Last updated: Mar 21, 2025
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Sample QuestionThe unit contribution margin is computed by:
Today we covered chapter three which was about job costing. This usually occurs with goods made after an order. As discussed job costing gives an accountant an overview of what each manufacturing will cost the company. What...
Questions: 55 | Attempts: 235 | Last updated: Mar 21, 2025
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Sample QuestionWhat are the two basic types of costing systems?
This Accounting Practice Test focuses on activity-based costing, overhead allocation, and cost systems. It assesses understanding of cost management in manufacturing contexts, enhancing accuracy in product costing and overhead...
Questions: 25 | Attempts: 579 | Last updated: Mar 21, 2025
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Sample QuestionWhen the firm tests 9,000 components during the month, based on the information in Table M4-1, the amount of overhead applied during the period for the quality pool is:
This quiz on Project Cost Management Planning assesses understanding of cost estimation techniques, performance tracking, and financial analysis in project settings. It tests skills crucial for effective project budgeting and...
Questions: 20 | Attempts: 305 | Last updated: Mar 18, 2025
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Sample Question____ estimates use the actual cost of a previous, similar project as the basis for estimating the cost of the current project.
MGT 402 Cost & Management Accounting - 2 focuses on key accounting concepts such as fixed, variable, and semi-variable costs. This quiz assesses understanding of cost behaviors, cost centers, and profit centers, essential for...
Questions: 22 | Attempts: 1331 | Last updated: Mar 21, 2025
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Sample QuestionFixed Cost and Variable Cost are Division of cost by its behavior
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