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Accounting Concepts Multiple Choice Questions and Answers 1 PDF Download

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

Study accounting concepts quiz with multiple choice question (MCQs): labor related to manufacturing of product can be classified under, for bachelor of business administration and masters in accounting degree courses with choices indirect manufacturing labor costs, direct manufacturing labor costs, work in process cost, finished costs for business administration degree preparation with trivia questions and answers online. Practice skills assessment test 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 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