Question 1

Conversion costs per equivalent unit will be same under both FIFO and average costing methods.

Accepted Answer

A) True 
 B)False

Question 2

Process costing is applicable to production operations that

Accepted Answer

A)  utilize several processes, departments, or work cells in a series. 
B)  do not assign overhead costs to operations. 
C)  produce large and unique machines. 
D)  are found in only a few industries. 
A)  utilize several processes, departments, or work cells in a series. 
B)  do not assign overhead costs to operations. 
C)  produce large and unique machines. 
D)  are found in only a few industries.

Question 3

A measure of productive output of units for a period of time, expressed in terms of completed whole units, is the definition of

Accepted Answer

A)  conversion costs. 
B)  ending work in process inventory. 
C)  equivalent units. 
D)  units started and completed. 
A)  conversion costs. 
B)  ending work in process inventory. 
C)  equivalent units. 
D)  units started and completed.

Conversion costs per equivalent unit will be same under both FIFO and average costing methods.

Process costing is applicable to production operations that

A measure of productive output of units for a period of time, expressed in terms of completed whole units, is the definition of

The Changing Business Environment - a Managers Perspective

Costing Systems- Job Order Costing

Value-Based Systems- Abm and Lean

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, Incl Target Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters

Exam 3: Costing Systems- Process Costing

Conversion costs per equivalent unit will be same under both FIFO and average costing methods.

Process costing is applicable to production operations that

A measure of productive output of units for a period of time, expressed in terms of completed whole units, is the definition of

The Changing Business Environment - a Managers Perspective

Costing Systems- Job Order Costing

Value-Based Systems- Abm and Lean

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, Incl Target Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters