Site MapHelpFeedbackChapter 4 Quiz 4
Chapter 4 Quiz 4
(See related pages)

1
Manufacturing overhead consists of a homogeneous pool of direct production costs, such as direct material and direct labour:
A)True
B)False
2
As production takes place all manufacturing costs, including direct material, direct labour and manufacturing overhead, are charged (debited) to the cost of goods sold account:
A)True
B)False
3
Process costing can be used by companies that produce a small range of very similar products in large quantities:
A)True
B)False
4
When valuing inventory, Australian accounting standard AASB 102, Inventories, prescribes that upstream costs (research and development, design and supply costs) should not be expensed in the period in which they were incurred:
A)True
B)False
5
Manufacturing overhead is underapplied when the overhead applied to production is greater than the actual overhead incurred:
A)True
B)False
6
Applied manufacturing overhead is an estimate of the overhead resources used to manufacture a product:
A)True
B)False
7
Businesses use job costing when they produce a single product (or a small range of very similar products) in large quantities:
A)True
B)False





To learn more about the book this website supports, please visit its Information Center.
(c)2009 McGraw-Hill Australia
Any use is subject to the Terms of Use and Privacy Notice.
McGraw-Hill Australia is one of the many fine businesses of The McGraw-Hill Companies.


Management AccountingOnline Learning Center

Home > Chapter 4 > Quiz 04.4