Top 150+ Solved Applied Cost Accounting MCQ Questions Answer
Q. A decrease in the variable cost per unit, the profit-volume ratio will
a. Increase
b. Decreases
c. Does not change
d. Difficult to say
Q. When fixed cost decreases, the break even point ……………….
a. Increase
b. Decreases
c. Does not change
d. Difficult to say
Q. A method of costing which is used to ascertain the cost of products at each stage of it’s manufacture is called
a. Job costing
b. Batch costing
c. Process costing
d. None of these
Q. The process A/c is debited with
a. All expenses and losse
b. Material, labour and overheads
c. Material and labour only
d. Incomes and gains
Q. The process A/c is credited with
a. Value of by-products & scrap
b. All expenses and losses
c. Material and labour
d. Incomes and gains
Q. Normal Process Loss is
a. Avoidable and controllable
b. Unavoidable and expected
c. Avoidable and unexpected
d. Unavoidable and uncontrollable
Q. Normal cost of Normal output is equal to
a. Total cost-scrap value of normal los
b. Total loss-normal loss
c. Total input-normal loss
d. None
Q. The finished product of one process becomes
a. Raw material of next proces
b. Finished product of next process
c. Output of next process
d. All of the above
Q. Units of abnormal gain………………..in process A/c and ……………in abnormal gain A/c
a. Credited, Debited
b. Debited, Debited
c. Debited, Credited
d. Credited, Credited
Q. Units of abnormal loss is………………..in abnormal process A/c and ……………in process A/c
a. Debited, Credited
b. Credited, Debited
c. Debited, Debited
d. Credited, Credited
Q. If abnormal loss has any scrap value , it should be credited to
a. Abnormal los
b. Profit & Loss A/c
c. Process A/c
d. None
Q. ……………..is a method of costing in which cost are collected and accumulated for each job order
a. Batch costing
b. Job costing
c. Process costing
d. Contract costing
Q. Production order costing is also known as
a. Job costing
b. Lot costing
c. Both a and b
d. None of the above
Q. Under job costing, on what basis production is performed?
a. Customers taste and preference
b. Customers income
c. Customers order and specifications
d. Both a and b