FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A. Which of the following costs is not a product cost?

  1.  Depreciation on the plant installed in the factory
  2. The electricity cost of the office of factory foreman 
  3.  The cost of shipping finished products to customers
  4. The cost of fuel used in the factory

B. Which of the following costs is not a period cost?

  1. Advertising cost
  2. Sales commission
  3. Interest
  4. Direct labor

C.  Which of the following would not be classed as a service department?

  1.    The maintenance department
  2.      The canteen
  3.          The finance department
  4.          The assembly department

D.  Job costing is the most suitable method for?

  1.     Oil processing units
  2.    Transport Companies
  3.    Sugar Industry
  4.    Repair shops

E.  Paper mills are must adopt?

  1.       Unit costing
  2.       Process costing
  3.      Job costing
  4.      Contract costing
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