A. summarize flow of output
B. compute output in units
C. summarize total costs
D. compute cost for each equivalent unit
Related Mcqs:
- 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 - The third step in decision making process is ____________?
A. linear predictions
B. dependent predictions
C. making predictions
D. independent predictions - The first step in process costing system is to ___________?
A. summarize flow of output
B. compute output in units
C. summarize total costs
D. compute cost for each equivalent unit - The fifth step in process costing system is to ___________?
A. allocate separable costs
B. allocate joint costs
C. compute gross margin
D. assign total cost to completed units - The forth step in process costing system is to __________?
A. summarize total costs
B. compute cost for each equivalent unit
C. summarize flow of output
D. compute output in units - The costing technique, which classify all the activities in costing hierarchy is classified as ____________?
A. activity based costing
B. non-financial costing
C. profit costing
D. lump sum costing - The third step in developing operating budget is ____________?
A. analysis of batches
B. analysis of batches
C. analysis of products
D. making predictions about future - 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 - 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 - The normal costing and standard costing methods are used in decisions such as ___________?
A. investment decisions
B. pricing decisions
C. product mix decisions
D. Both B and C
