Costing Methods MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Costing Methods, a fundamental topic in the field of Cost Accounting. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Costing Methods MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Costing Methods mcq questions that explore various aspects of Costing Methods problems. Each MCQ is crafted to challenge your understanding of Costing Methods principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Cost Accounting tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Costing Methods MCQs are your pathway to success in mastering this essential Cost Accounting topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Costing Methods. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Costing Methods knowledge to the test? Let's get started with our carefully curated MCQs!

Costing Methods MCQs | Page 8 of 17

Q71.
The reorder point is divided by number of sold units for per unit of time to calculate
Discuss
Answer: (c).purchase order lease time
Q72.
Buying of goods or materials for production in a way that they are delivered directly on the manufacturing facility of company is called
Discuss
Answer: (c).just in time purchasing
Q73.
The purchase order lead time is multiplied to the number of units sold per unit of time, to calculate
Discuss
Answer: (d).reorder point
Q74.
The costs of issuing purchase orders, making of delivery records for tracking payments and costs of inspection of items are classified as
Discuss
Answer: (b).ordering costs
Q75.
The relevant ordering costs are added into relevant carrying costs to calculate
Discuss
Answer: (a).relevant total costs
Q76.
If the purchase order lead time is 35 minutes and number of units sold per time is 400 units, then reorder point will be
Discuss
Answer: (a).14000 units
Q77.
The budgeted total direct labor cost is divided with budgeted total direct labor, to calculate
Discuss
Answer: (c).budgeted direct labor cost rate
Q78.
The budgeted direct labor hours are multiplied to direct labor cost rate, to calculate
Discuss
Answer: (b).budgeted total direct labor cost
Q79.
The term which describes the assigning of indirect cost, to any cost object is classified as
Discuss
Answer: (a).cost allocation
Q80.
A document which contains information about the materials of specific product, in specific department comes under
Discuss
Answer: (c).material acquisition method