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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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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