Process Costing Multiple Choice Questions (MCQ) PDF - 4

MCQ 16: The third step in process costing system is to

1. summarize flow of output
2. compute output in units
3. summarize total costs
4. compute cost for each equivalent unit

MCQ 17: The hybrid costing system, which is applied to batches of similar products, but are not identical is classified as

1. incremental costing system
2. split off costing system
3. inventoriable costing system
4. operation costing system

MCQ 18: The costing system, which classify cost into cost categories in a way when an expense is incurred in the process is called

1. conversion expense costing system
2. inventory costing system
3. process costing system
4. job costing system

MCQ 19: Total cost related to work in process inventory is divided by total units of work done is used to calculate

1. Gross weighted margin
2. weighted average revenue
3. weighted average cost
4. weighted average conversion cost

MCQ 20: The costing system, which is a combination of process costing and job costing system, is classified as

1. weighted costing system
2. average costing system
3. hybrid costing system
4. double costing system