Cost Accounting quick practice

Question 1 of 10

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

Question 2 of 10

Budgeted overheads are GH₵ 40,000 and budgeted machine hours are 8,000. Find the overhead absorption rate.

Question 3 of 10

Costs that change in total with the level of output are

Question 4 of 10

A department or location to which costs are charged is a

Question 5 of 10

The document used to request materials from the store for production is the

Question 6 of 10

Service department costs reapportioned among production departments using the repeated distribution method account for

Question 7 of 10

The order quantity that minimises the total of ordering and holding costs is the

Question 8 of 10

Overheads absorbed are GH¢48,000 and actual overheads are GH¢50,000. The overheads are

Question 9 of 10

Process costing is used where

Question 10 of 10

In times of rising prices, FIFO gives a closing inventory value that is