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Accounting Concepts Multiple Choice Questions 1 PDF Download

Learn accounting concepts multiple choice questions (MCQs), cost accounting test 1 for online course prep exams. Practice inventory types, inventoriable cost and period cost MCQs questions and answers on inventory types, inventoriable cost and period cost, manufacturing costs, prime costs, conversion costs for online international accounting standards course test.

Free accounting concepts quiz online, study guide has multiple choice question on 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 to test online e-learning skills for viva exam prep and job's interview questions with answers key. Study to learn inventory types, inventoriable cost and period cost quiz questions with online learning MCQs for competitive exam preparation test. Inventory Types, Inventoriable Cost and Period Cost Video

MCQ on Accounting Concepts Quiz PDF Download Test 1

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