Applied costing

An educational illustration depicting various costing concepts like fixed and variable costs, with graphical representations of cost allocation and applied costing systems.

Applied Costing Quiz

Test your knowledge of applied costing concepts with our engaging quiz! This quiz features 10 multiple-choice questions designed to assess your understanding of cost allocation, types of costs, and applied costing systems.

Key topics include:

Cost allocation methods
Fixed vs. variable costs
Job order vs. process costing

10 Questions2 MinutesCreated by CalculatingEagle234

What is the process of allocating costs to specific products or services called?

Cost Allocation

Cost Accounting

Cost Estimation

Cost Analysis

What type of cost does not change with an increase in production?

Fixed Costs

Variable Costs

Direct Costs

Indirect Costs

What are the two main types of applied costing systems?

Absorption and Activity-Based

Standard and Marginal

Fixed and Variable

Job and Process

What type of cost can be directly linked to a particular product?

Direct Costs

Indirect Costs

Fixed Costs

Variable Costs

What type of costing system focuses on activities as the basis for assigning costs?

Activity-Based Costing

Job Order Costing

Process Costing

Absorption Costing

What type of cost is affected by changes in production levels?

Variable Costs

Fixed Costs

Direct Costs

Indirect Costs

What type of cost includes raw materials, labor, and overhead?

Total Costs

Prime Costs

Conversion Costs

Overhead Costs

What type of cost is incurred regardless of production volume?

Fixed Costs

Variable Costs

Direct Costs

Indirect Costs

What type of cost is associated with a specific job or order?

Job Order Costing

Process Costing

Activity-Based Costing

Absorption Costing

Applied costing

Applied Costing Quiz

More Quizzes