Cost Accounting quick practice

Question 1 of 10

The document prepared when goods are received from a supplier is the

Question 2 of 10

Cost accounting differs from financial accounting because it is mainly for

Question 3 of 10

A product sells for GH₵ 25 and its variable cost is GH₵ 15. Fixed costs are GH₵ 20,000. Find the break-even point in units.

Question 4 of 10

A predetermined cost used to measure performance by comparison with actual cost is a

Question 5 of 10

When overheads absorbed are less than overheads actually incurred, there is

Question 6 of 10

Sales 5,000 units at GH¢20; variable cost GH¢12/unit; fixed costs GH¢25,000. Profit is

Question 7 of 10

Under absorption costing, if production exceeds sales, profit compared with marginal costing is

Question 8 of 10

A worker paid GH¢5 per hour works 40 hours. Gross pay is

Question 9 of 10

Labour turnover refers to

Question 10 of 10

A product sells for GH¢20 and has a variable cost of GH¢12 per unit. Its contribution/sales ratio is