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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Q. An amount of spoilage that is not natural in a specific production process is categorized as

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Q. The sum of beginning work in process inventory units and started units, is subtracted from the sum of ending work in process inventory units and transferred out units of goods, to calculate

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Q. The stage in production process, where the manufactured goods are checked; whether the units are acceptable or not is classified as

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Q. The production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as

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Q. An example of rework is

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Q. If the transferred out total cost is $1850000 and the number of good units (produced), then the cost per good unit transferred out and completed can be

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