The normal costing and standard costing methods are used in decisions such as ___________?

Related Mcqs:

1. In the standard costing, the standard quantity allocation is multiplied to standard overhead rates for allocating __________?

   A. flexible costs
   B. variable costs
   C. overhead costs
   D. fixed costs

2. The costing system, which is a combination of process costing and job costing system, is classified as __________?

   A. weighted costing system
   B. average costing system
   C. hybrid costing system
   D. double costing system

3. Throughout the period costs, costing methods are treated as ___________?

   A. manufacturing in period
   B. expenses of period
   C. incurred in period
   D. accrual in period

4. The fixed direct manufacturing cost is calculated, by multiplying standard prices for standard quantity of allowed input for actual output in ___________?

   A. input costing
   B. output costing
   C. standard costing
   D. achieved costing

5. In normal costing, an actual quantity of cost allocation used base is multiplied to budgeted fixed overhead rates to calculate the ___________?

   A. indirect manufacturing overhead cost
   B. direct manufacturing overhead cost
   C. fixed manufacturing overhead cost
   D. variable manufacturing overhead cost

6. The standard input allows one unit, to be divided by standard cost per output unit, for variable direct cost input to calculate ___________?

   A. standard price per input unit
   B. standard price per output unit
   C. standard cost per input unit
   D. standard cost per output unit

7. In two of the methods of costing, the operating income will be different if the __________?

   A. fixed cost does not change
   B. inventory changes
   C. inventory does not change
   D. fixed cost changes

8. In manufacturing companies, the variable and absorption costing are methods, which are used in __________?

   A. recording of liabilities
   B. costing of current assets
   C. costing of machinery
   D. costing of inventories

9. If the fixed manufacturing cost expenses are under variable costing and are not expensed in absorption costing, it is resulting in _________?

   A. production exceeds breakeven sales
   B. breakeven sales exceeds production
   C. price exceeds cost
   D. cost exceeds price

10. The variance which is included in absorption costing, but not in variable costing is classified as __________?

    A. production volume variance
    B. cost volume variance
    C. profit volume variance
    D. fixed cost variance