A. sale costing system
B. job costing system
C. price costing system
D. process costing system
Correct Answer: process costing system ✔
Last Updated: May 11, 2023
Related MCQs
- If the budgeted direct labor hours are 3550 and direct labor cost rate is $500 per labor hour, then total direct labor cost would be __________?
- The situation in which the cost object has any job, customer or product is known as _________?
- In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate __________?
- If the budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then the budgeted indirect cost rate would be __________?
- If the budgeted indirect cost is $225 and the budgeted cost allocation base is $750 per hour, then the annual indirect cost (budgeted) would be __________?
- In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?
- If the budgeted annual manufacturing indirect cost is $2250000 and the cost allocation base is 2800 labor hour, then budgeted manufacturing overhead rate will be __________?
- If the budgeted indirect cost arte is $115 and the budgeted cost allocation base is $830 per hour, then the annual indirect cost (budgeted) will be __________?
- The procedure of assigning the direct cost to any cost abject is classified as __________?
- If the budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then the budgeted indirect cost rate will be __________?
- If an actual manufacturing overhead costs is $485000 and actual total quantity of cost allocation base is 4500 labor hours, then the overhead rate would be __________?
- The costing technique, in which the actual direct rates are multiplied to quantity of direct cost inputs is classified as __________?
- In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as __________?
- If an actual indirect cost incur is $35000 and the indirect cost allocated is $43000, then the under allocated indirect cost will be __________?
- The systematic way of linking group of indirect cost to a cost object is classified as __________?
- If the budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be __________?
- The manufacturing overhead cost allocated to individual jobs is classified as __________?
- If the budgeted total direct labor hours are 5500 and budgeted direct labor cost is $755000, then the budgeted direct labor cost rate is _________?
- If the budgeted total direct labor hours are 3800 and budgeted direct labor cost is $480000, then the budgeted direct labor cost rate will be __________?
- A document which consists information about labor time usage, for specific job in a specific department, is known as __________?
- If an overhead cost of operating a machine is $500000 for 1000 hours, then the cost allocation rate will be __________?
- If the budgeted direct labor hours are 4550 and direct labor cost rate is $600 per labor hour then, total direct labor cost would be __________?
- The process of assigning the direct or indirect cost to any cost object is known as __________?
- An approach which yields the benefits of normal costing and the actual manufacturing overhead is classified as __________?
- The total indirect cost in the pool by an actual quantity of cost allocation base, is used to calculate __________?
- An under allocated indirect cost is also called __________?
- If the budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be __________?
- A document which contains information about the materials of specific product, in specific department comes under __________?
- The budgeted direct labor hours are multiplied to direct labor cost rate, to calculate __________?
- The budgeted total direct labor cost is divided with budgeted total direct labor, to calculate __________?
- If an allocated indirect cost is $1500 and the actual incurred indirect cost is $1200, then this is classified as __________?
- The budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base, to calculate __________?
- The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?
- In an accounting system, the document which supports journal entries is classified as __________?
- If an actual indirect cost incurred is $25000 and the indirect cost allocated is $23000, then the over allocated indirect cost would be ________?
- An allocation approach, in which all the overhead entries are restated using actual cost rates in place of budgeted rates is called __________?
- In normal costing, the manufacturing overhead allocated is also called _________?
- If an actual manufacturing overhead costs is $225000 and actual total quantity of cost allocation base is 2500 labor hours, then the overhead rate will be __________?
- The costing and allocating situation, in which the indirect cost allocated amount is less than actually incurred amount is known as __________?
- In accounting system, a document which consists of all assigned cost for specific job is classified as __________?
- The single or multiple units of distinct services or products are classified as _________?
- An average unit cost, applicable to each similar produced unit is classified as __________?
- A group of individual indirect cost item is defined as __________?
- In normal costing, the situation in which the allocated amount of indirect cost is greater than the incurred cost, is considered as __________?
- The term which describes the assigning of indirect cost, to any cost object is classified as __________?