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Which of the following is NOT true of conversion costs?
A. All non-production costs apportioned to product units
B. The combination of direct labour costs and manufacturing overheads
C. Production costs necessary to convert raw materials into products
D. Production costs other than the cost of materials
E. Production costs incurred from the moment materials are introduced into production up to the saleable stage
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Which of the following statements correctly defines stepped costs?
A. Costs which occur at certain times or seasons during the year
B. Costs which increase with each succeeding month
C. Costs which are semi-fixed or semi-variable
D. Costs which remain fixed over a given range of activity but jump to a higher level once the activity increases beyond the range
E. Costs which are incurred at various levels of a company’s hierarchy
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What are the components of mixed costs?
A. Fixed costs and variable costs
B. Relevant costs and irrelevant costs
C. Current costs and sunk costs
D. Direct costs and indirect costs
E. Controllable costs and uncontrollable costs
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Which of the following statements is NOT correct in the relationship between direct and variable costs?
A. Direct costs and variable costs are one and the same
B. Direct costs can be directly traced to a product while variable costs vary with the level of production output
C. Direct costs are traceable to cost objects, e.g. goods or services, departments or projects while all variable costs are not necessarily traceable
D. Direct costs may include fixed and variable costs
E. Both direct costs and variable costs are traceable to production
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Which of the following describes cost behavior?
A. The effect of cost on company performance
B. The total cost of running a business
C. The movement of material costs during inflation
D. How total costs react to changes in output
E. The ratio of costs to turnover
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Which of the following is NOT part of the main purposes of cost codes?
A. Reduces clerical work
B. Facilitates electronic data processing
C. Facilitates a good costing system
D. Facilitates logical and systematic arrangement of costing records
E. Facilitates control
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Fixed cost is a cost:
A. Which changes in total in proportion to changes in output
B. Which is partly fixed and partly variable in relation to output
C. Which increases per unit as output increases
D. Which remains the same for each unit of output
E. Which remains constant in total as output changes within the relevant range
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Which of the following is NOT true of conversion costs?
A. All non-production costs apportioned to product units
B. The combination of direct labour costs and manufacturing overheads
C. Production costs necessary to convert raw materials into products
D. Production costs other than the cost of materials
E. Production costs incurred from the moment materials are introduced into production up to the saleable stage
Find Related Questions by Tags, levels, etc.
Which of the following statements correctly defines stepped costs?
A. Costs which occur at certain times or seasons during the year
B. Costs which increase with each succeeding month
C. Costs which are semi-fixed or semi-variable
D. Costs which remain fixed over a given range of activity but jump to a higher level once the activity increases beyond the range
E. Costs which are incurred at various levels of a company’s hierarchy
Find Related Questions by Tags, levels, etc.
What are the components of mixed costs?
A. Fixed costs and variable costs
B. Relevant costs and irrelevant costs
C. Current costs and sunk costs
D. Direct costs and indirect costs
E. Controllable costs and uncontrollable costs
Find Related Questions by Tags, levels, etc.
Which of the following statements is NOT correct in the relationship between direct and variable costs?
A. Direct costs and variable costs are one and the same
B. Direct costs can be directly traced to a product while variable costs vary with the level of production output
C. Direct costs are traceable to cost objects, e.g. goods or services, departments or projects while all variable costs are not necessarily traceable
D. Direct costs may include fixed and variable costs
E. Both direct costs and variable costs are traceable to production
Find Related Questions by Tags, levels, etc.
Which of the following describes cost behavior?
A. The effect of cost on company performance
B. The total cost of running a business
C. The movement of material costs during inflation
D. How total costs react to changes in output
E. The ratio of costs to turnover
Find Related Questions by Tags, levels, etc.
Which of the following is NOT part of the main purposes of cost codes?
A. Reduces clerical work
B. Facilitates electronic data processing
C. Facilitates a good costing system
D. Facilitates logical and systematic arrangement of costing records
E. Facilitates control
Find Related Questions by Tags, levels, etc.
Fixed cost is a cost:
A. Which changes in total in proportion to changes in output
B. Which is partly fixed and partly variable in relation to output
C. Which increases per unit as output increases
D. Which remains the same for each unit of output
E. Which remains constant in total as output changes within the relevant range
Find Related Questions by Tags, levels, etc.
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