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Q. When there is opening work in progress there are two types of cost on the debit side of the account. These are the costs that were incurred last period and brought forward as work in progress and the costs that were incurred in the current period.

Q. . Which of the following is not considered to be a benefit of activity-based costing?

Q. Identify the circumstances where under- or over-recovery of overhead will occur:

Q. When there is closing work in progress, costs are shared between finished units and inventory by calculating a cost per equivalent unit.

Q. If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are

Q. An overhead absorption rate is used to:

Q. A contract is generally of ………………..duration.

Q. IF the profit are 50% of operating cost, it is ……………. of invoice price.

Q. The cost per unit manufactured in a batch is the total batch cost divided by the number of units in the batch.

Q. Under or over absorption is caused by the actual fixed overhead and production volume being different from those figures used to calculate the predetermined rate.