Q. If an allocated indirect cost is $1500 and the actual incurred indirect cost is $1200, then this is classified as

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Q. 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

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Q. The cost of previous department is a part of

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Q. The total costs incur in a production process, is divided by total number of output units, to calculate the

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Q. If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are

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

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Q. If the beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and units completed in current period are 4000, then ending work in process equivalent units will be

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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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