Q. The first step in process costing system is to

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Q. The costs that are incurred in last department, where the product has been processed and will be carried to next department for further processing are called

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Q. In process costing method, when the work done in current accounting period, and beginning inventory before current accounting period, is classified as

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Q. The fifth step in process costing system is to

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Q. The forth step in process costing system is to

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Q. The costing method, which calculates per equivalent unit cost of all the production related work done, till calculated date is termed as

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Q. The second step in processing costing system is to

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Q. The standardized technique that is performed repetitively on different kind of materials to convert them into different finished products is known as

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Q. If the total incurred cost in a production process are $30000 and the number of output units are 5000 units, then the units cost will be

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Q. 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

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Q. The third step in process costing system is to

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Q. The hybrid costing system, which is applied to batches of similar products, but are not identical is classified as

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

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Q. Total cost related to work in process inventory is divided by total units of work done is used to calculate

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Q. The costing system, which is a combination of process costing and job costing system, is classified as

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Q. The partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called

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Q. In process and job costing system, the normal spoilage cost is considered as

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Q. The types of spoilage include

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Q. Which one of the following is an example of spoilage?

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Q. The units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate

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