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Cost Allocation Joint Products and Byproducts Multiple Choice Questions 1 PDF Download

Learn cost allocation joint products and byproducts multiple choice questions (MCQs), cost accounting test 1 for online course prep exams. Practice constant gross margin percentage nrv method MCQs questions and answers on constant gross margin percentage nrv method, irrelevant joint costs decision making, sales value split off method, joint cost basics, net realizable value method for BBA online study questions with answers.

Free cost allocation joint products and byproducts quiz online, study guide has multiple choice question on first step in constant gross margin percentage, net realizable value (nrv) method is to allocate joint, to compute with options total production cost of each product, gross margin percentage, allocated joint costs and cost of split off point to test online e-learning skills for viva exam prep and job's interview questions with answers key. Study to learn constant gross margin percentage nrv method quiz questions with online learning MCQs for competitive exam preparation test. Constant Gross Margin Percentage NRV Method Video

MCQ on Cost Allocation Joint Products and Byproducts Quiz PDF Download Test 1

MCQ. First step in constant gross margin percentage, Net realizable value (NRV) method is to allocate joint, to compute

  1. Gross margin percentage
  2. total production cost of each product
  3. allocated joint costs
  4. cost of split off point

A

MCQ. An additional cost, incurred for some specific activity to bring processed product on to next production stage is

  1. partial cost
  2. relevant cost
  3. incremental cost
  4. irrelevant cost

C

MCQ. A joint cost allocation method is based on relative value of total sales, at point of split off is classified as

  1. sales value at split off method
  2. joint costs at split off point method
  3. joint products value at split off method
  4. main product cost at split off method

A

MCQ. In a joint process of production, product which yields low volume of sales as compared to total sales of other products, specify as

  1. Second incremental product
  2. First incremental product
  3. step down product
  4. byproduct

D

MCQ. Difference between final sales value and separable costs is equal to

  1. net income
  2. net realizable value
  3. Gross margin
  4. Gross realizable value

B