Q. Stock of work in progress and finished goods are valued at marginal costing not include
✅ Correct Answer: (A)
Fixed cost
Applied Cost Accounting MCQs and Notes
Q. The difference between selling price and marginal cost is
✅ Correct Answer: (C)
Contribution
Q. In marginal costing selling price is based on
✅ Correct Answer: (D)
Marginal cost plus contribution
Q. In marginal costing valuation of stock of work in progress is done on the basis of
✅ Correct Answer: (B)
Marginal cost
Q. In cost-plus contract, the contractor will get costplus
✅ Correct Answer: (B)
Stipulated profit
Q. Contract costing is a basic method of
✅ Correct Answer: (B)
Specific order costing
Q. The loss incurred on an incomplete contract is transferred to
✅ Correct Answer: (A)
Profit and Loss Account
Q. Job costing can be used in industries using
✅ Correct Answer: (C)
Standard costing
Q. The job costing each job is a ……………. to which all costs are assigned
✅ Correct Answer: (B)
Cost unit