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Accounting Concepts Multiple Choice Questions and Answers 1 PDF Download

Learn accounting concepts MCQs, mastering cost accounting test 1 for online learning, course exam prep. Practice inventory types, inventoriable cost and period cost MCQs, accounting concepts multiple choice questions and answers on inventory types, inventoriable cost and period cost, manufacturing costs, prime costs, conversion costs test for online master accountancy courses distance learning.

Free online accounting concepts quiz, self-study student guide has multiple choice question: labor related to manufacturing of product can be classified under with options indirect manufacturing labor costs, direct manufacturing labor costs, work in process cost and finished costs for business administration degree preparation with trivia questions and answers online. Study to learn online inventory types, inventoriable cost and period cost quiz questions with financial accounting MCQs for formative assessment of students with e-learning portal. Inventory Types, Inventoriable Cost and Period Cost Video

MCQ on Accounting Concepts Test 1 Quiz PDF Download

MCQ: Labor related to manufacturing of product can be classified under

  1. direct manufacturing labor costs
  2. indirect manufacturing labor costs
  3. work in process cost
  4. finished costs

A

MCQ: Direct material costs are added into direct manufacturing costs, to calculate

  1. discuss costs
  2. prime costs
  3. resale cost
  4. merchandise costs

B

MCQ: Direct manufacturing labor costs is added into manufacturing overhead cost to calculate

  1. transaction costs
  2. conversion costs
  3. resale costs
  4. merchandise costs

B

MCQ: In cost terms, direct manufacturing labor cost is included in

  1. manufacturing costs
  2. prime costs
  3. conversion costs
  4. both B and C

D

MCQ: Conversion cost is $2000 and manufacturing overhead cost is $7000, then direct manufacturing labor cost will be

  1. $27,000
  2. $13,000
  3. $130,000
  4. $29,500

B