If the total incurred cost in a production process are $30000 and the number of output units are 5000 units, then the units cost will be __________? April 20, 2025 by admin A. $16 B. $60 C. $6 D. $26
If the cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be __________? April 20, 2025 by admin A. $10 B. $100 C. $1,000 D. $1,200
The third step in process costing system is to ____________? April 20, 2025 by admin A. summarize flow of output B. compute output in units C. summarize total costs D. compute cost for each equivalent unit
The costing system, which classify cost into cost categories in a way when an expense is incurred in the process is called ____________? April 20, 2025 by admin A. conversion expense costing system B. inventory costing system C. process costing system D. job costing system
Total cost related to work in process inventory is divided by total units of work done is used to calculate _____________? April 20, 2025 by admin A. Gross weighted margin B. weighted average revenue C. weighted average cost D. weighted average conversion cost
In process and job costing system, the normal spoilage cost is considered as ___________? April 20, 2025 by admin A. conversion costs B. sunk costs C. inventoriable costs D. non inventoriable costs
Which one of the following is an example of spoilage? April 20, 2025 by admin A. short lengths from wood work B. defective aluminum cans recycled by manufacturer C. detection of defective pieces before shipment D. all of above
An amount of spoilage that is not natural in a specific production process is categorized as ____________? April 20, 2025 by admin A. normal scrap B. normal spoilage C. abnormal spoilage D. weighted spoilage
The stage in production process, where the manufactured goods are checked; whether the units are acceptable or not is classified as __________? April 20, 2025 by admin A. rework point B. inspection point C. spoilage point D. scrap point
An example of rework is ____________? April 20, 2025 by admin A. short lengths from wood work B. defective aluminum cans recycled by manufacturer C. detection of defective pieces before shipment D. none of above
