Q. The limitations of job costing are ;
✅ Correct Answer: (D)
All of them
Applied Cost Accounting MCQs and Notes
Q. Under job costing, on what basis production is performed?
✅ Correct Answer: (C)
Customers order and specifications
Q. Production order costing is also known as
✅ Correct Answer: (C)
Both a and b
Q. ……………..is a method of costing in which cost are collected and accumulated for each job order
✅ Correct Answer: (B)
Job costing
Q. Any loss over and above the normal loss is called
✅ Correct Answer: (C)
Spoilage
Q. If abnormal loss has any scrap value , it should be credited to
✅ Correct Answer: (A)
Abnormal los
Q. Units of abnormal loss is………………..in abnormal process A/c and ……………in process A/c
✅ Correct Answer: (B)
Credited, Debited
Q. Units of abnormal gain………………..in process A/c and ……………in abnormal gain A/c
✅ Correct Answer: (C)
Debited, Credited
Q. The finished product of one process becomes
✅ Correct Answer: (A)
Raw material of next proces
Q. Normal cost of Normal output is equal to
✅ Correct Answer: (A)
Total cost-scrap value of normal los