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Accounting Concepts Multiple Choice Questions and Answers 1 PDF Download

Accounting concepts multiple choice questions (MCQs), accounting concepts test prep to learn MBA accounting quiz 1 for online MBA programs courses. Learn inventory types, inventoriable cost and period cost multiple choice questions (MCQs), accounting concepts quiz questions and answers. Free e-learning inventory types, inventoriable cost and period cost, manufacturing costs, prime costs, conversion costs test prep for online master accountancy courses distance learning.

Practice accounting concepts career test with multiple choice question: direct material costs are added into direct manufacturing costs, to calculate, for business majors with options prime costs, discuss costs, resale cost, merchandise costs for business administration degree online. Professional skills assessment test for online learning 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 1Quiz 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