WAM and Spoilage Quiz PDF: Questions and Answers - 167

MCQ 831: If the cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be

1. $10
2. $100
3. $1,000
4. $1,200

MCQ 832: The first step in decision making process is to

1. identify the problem
2. identify the linear variable
3. identify the certainty
4. identify the multiplier

MCQ 833: If the price variance is $30 and the budgeted input price is $80, then an actual price would be

1. −$110
2. −$50
3. $110
4. $50

MCQ 834: Total cost of producing similar products divided by number of units produced is a technique known as

1. sale costing system
2. job costing system
3. price costing system
4. process costing system

MCQ 835: The method, which allocates cost of support department for operating departments by recognizing all the mutual services provided is classified as

1. indirect method
2. direct method
3. step down method
4. reciprocal method