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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 learning, course exam prep. Practice constant gross margin percentage nrv method MCQs, cost allocation joint products and byproducts 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 test for online accounting information system courses distance learning.

Free cost allocation joint products and byproducts quiz online, self-study student guide has multiple choice question: first step in constant gross margin percentage, net realizable value (nrv) method is to allocate joint, to compute with choices total production cost of each product, gross margin percentage, allocated joint costs and cost of split off point for online competitive test preparation for job hiring, graduate jobs and research jobs preparation. Study to learn online constant gross margin percentage nrv method quiz questions with financial accounting MCQs for finance certification competitive exam prep. Constant Gross Margin Percentage NRV Method Video

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

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