9- The direct costs are: a. apportioned to products/centres b. absorbed by products c. traced to products d. allocated to products
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9- The direct costs are:
a.
apportioned to products/centres
b.
absorbed by products
c.
traced to products
d.
allocated to products
Step by step
Solved in 2 steps
- 10- The direct costs are: a. apportioned to products/centres b. absorbed by products c. traced to products d. allocated to productsThe direct costs are: a. allocated to products b. traced to products c. absorbed by products d. apportioned to products/centres13. The cost that can be directly identified with a cost unit/centre and can be allocated to that cost unit/centre is called _______. a. Overhead b. Cost of production c. Indirect d. Direct cost
- In cost terms, direct labor cost is included inA. Manufacturing costsB. Prime costsC. Conversion costsD. B and CE. A, B and C5.The cost of conversion of inventories include all of the following, EXCEPT a. costs directly related to the units of production, such as direct labor. b. systematic allocation of fixed production overhead. c. systematic allocation of variable production overhead. d. systematic allocation of administrative overhead.17 - Which of the following is the cost method used by companies that produce different products in certain batches ? a) Normal cost method B) Standard cost method NS) Phase cost method D) full cost method TO) Order cost method
- 3.Activity based costing (ABC) is a method of allocating the indirect costs of sales commissions to products. A. true b. falseSteps performed in stage two of ABC costing include: i. computation of product cost per unit for each product lineii. assignment of costs to appropriate cost pooliii. computation of total activity cost for each product lineiv. computation of pool ratev. identi cation of cost poolsSelect the appropriate optiona. i, ii, iiib. ii, iii, ivc. iii, iv, vd. i, iii, ive. None of above3(Cost Accounting) Determine the following using the First-In First-Out (FIFO) method of process costing: 1. Equivalent units of production for materials and conversion cost 2. unit costs, and; 3. Inventory values
- 9. The total of indirect material cost, indirect labour cost and indirect expenses are called___________ a. Cost of production b. Indirect c. Overhead d. Direct costWhen products and their costs are moved from one process to the next process, these costs are referred to as a. WIP inventory costs. b. unit costs. c. transferred-in costs. d. equivalent unit costs.6- Absorption costing makes an apportionment of indirect costs so that the products absorb these costs. The main problem with this procedure can be pointed out: *a) only considers fixed costsb) the apportionment is arbitraryc) disregards variable costsd) only considers variable costs