Process Costing System MCQs Test Online PDF Download

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MCQ on Process Costing SystemQuiz PDF Download

MCQ: Total costs incur in a production process, is divided by total number of output units, to calculate the

  1. cost of indirect labor
  2. cost of direct labor
  3. cost of direct material
  4. unit costs

D

MCQ: A unit cost calculated in costing system, by assigning total costs incurred to many similar units is categorized as

  1. accounting period costing system
  2. process costing system
  3. job costing system
  4. none of above

B

MCQ: First 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

A

MCQ: Fifth step in process costing system is to

  1. allocate separable costs
  2. allocate joint costs
  3. compute gross margin
  4. assign total cost to completed units

D

MCQ: Forth step in process costing system is to

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

B