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Cost Allocation: Joint Products and Byproducts Multiple Choice Questions Test 1 Tests pdf Download

Practice cost allocation: joint products and byproducts multiple choice questions (MCQs), cost accounting test 1 online to learn. Practice constant gross margin percentage nrv method MCQs questions and answers on constant gross margin percentage nrv method, irrelevant joint costs: decision making, sales value: split off method, joint cost basics, net realizable value method with answers. Free cost allocation: joint products and byproducts study guide has answer key with choices as total production cost of each product, gross margin percentage, allocated joint costs and cost of split off point of multiple choice questions (MCQ) as first step in constant gross margin percentage nrv method to allocate joint cost for computing to test learning skills. Study to learn constant gross margin percentage nrv method quiz questions to practice MCQ based online exam preparation test.

MCQ on Cost Allocation: Joint Products and Byproducts Quiz pdf Download Test 1

MCQ. First step in constant gross margin percentage NRV method to allocate joint cost for computing

  1. gross margin percentage
  2. total production cost of each product
  3. allocated joint costs
  4. cost of split off point

A

MCQ. An additional cost incurred for some specific activity to bring processed product on to next production stage is classified as

  1. partial cost
  2. relevant cost
  3. incremental cost
  4. irrelevant cost

C

MCQ. A joint cost allocation method is based on relative value of total sales at point of split off is classified as

  1. sales value at split off method
  2. joint costs at split off point method
  3. joint products value at split off method
  4. main product cost at split off method

A

MCQ. In a joint process of production, product yields low volume of sales as compared to total sales of other products is classified as

  1. second incremental product
  2. first incremental product
  3. step down product
  4. byproduct

D

MCQ. Difference between final sales value and separable costs is equal to

  1. net income
  2. net realizable value
  3. gross margin
  4. gross realizable value

B

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