The third step in process costing system is to ____________?

Related Mcqs:

1. 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

2. The third step in decision making process is ____________?

   A. linear predictions
   B. dependent predictions
   C. making predictions
   D. independent predictions

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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

10. 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