Costing Archives - MCQ and Quiz for Exams

1. In plotting of cost functions, level of activities according to which charged cost is represented on

x-axis

y-axis

unit axis

term axis

Detailed SolutionIn plotting of cost functions, level of activities according to which charged cost is represented on

2. Overhead cost is the total of ________.

all indirect costs

all direct costs

indirect and direct costs

all specific costs

Detailed SolutionOverhead cost is the total of ________.

3. Fifth step in process costing system is to

allocate separable costs

allocate joint costs

compute gross margin

assign total cost to completed units

Detailed SolutionFifth step in process costing system is to

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