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Accounting Concepts Multiple Choice Questions and Answers 1 PDF Book Download

Accounting concepts MCQs, accounting concepts quiz answers, MBA accounting test 1 to learn accounting online courses. Learn inventory types, inventoriable cost and period cost multiple choice questions (MCQs), accounting concepts quiz questions and answers for admission and scholarships exams. Practice assessment test on inventory types, inventoriable cost and period cost, manufacturing costs, prime costs, conversion costs test prep for accounting certifications.

Practice accounting concepts career test with multiple choice question: labor related to manufacturing of product can be classified under, with choices indirect manufacturing labor costs, direct manufacturing labor costs, work in process cost, and finished costs for online degree in accounting and finance. Prepare jobs' assessment test for learning online inventory types, inventoriable cost and period cost quiz questions with financial accounting MCQs for finance certifications. Inventory Types, Inventoriable Cost and Period Cost Video

MCQ on Accounting Concepts Test 1Quiz Book 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