Team MKJ

Cost Accounting Challenge

Test your knowledge on cost accounting with our engaging quiz designed for students, teachers, and anyone looking to sharpen their financial skills.

Topics covered include:

12 Questions3 MinutesCreated by CalculatingWhale451

Which of the following costs are considered a period rather than a product cost in a manufacturing company

Direct material cost

Sales commission

Electrical costs to light the production facility

Manufacturing equipment depreciation

Which of the following costs are variable with respect to the number of shoes sold at an outlet store

Cost of shoes

Store cashiers' wages

Electricity cost of the store

None

These are costs that can be easily traced to a unit of product

Common cost

Indirect cost

Direct cost

Product cost

These are indirect costs incurred to support a number of cost objects

Overhead

Common costs

Direct costs

Indirect costs

These are examples of manufacturing overhead EXCEPT

Property taxes

Utility cost

Insurance premiums incurred to operate a manufacturing facility

All are manufacturing overhead

These are organizational and clerical costs

Administrative costs

Selling costs

Manufacturing overhead cost

Product cost

This includes all the costs that are involved in acquiring or making a product

Selling cost

Product cost

Labor cost

None of the above

Product costs include the following EXCEPT

Raw materials

Work in process

Finished goods costs

All are product costs