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Cost Allocation Joint Products and Byproducts Multiple Choice Questions 1 PDF Download

Learn cost allocation joint products and byproducts multiple choice questions (MCQs), cost accounting test 1 for online exams. 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 quiz, online study guide has helping 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 as first step in constant gross margin percentage nrv method is to allocate joint to compute to test learning skills for viva exam preparation and job's interview questions. Study to learn constant gross margin percentage nrv method quiz questions with online learning MCQs for competitive exam preparation test. Constant Gross Margin Percentage NRV Method Video

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

MCQ. The first step in constant gross margin percentage NRV method is to allocate joint to compute

  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

  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 the 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, the product which yields low volume of sales as compared to total sales of other products is known as

  1. Second incremental product
  2. First incremental product
  3. step down product
  4. byproduct

D

MCQ. The 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