Costing - Practice Test | ExamPrepSheets

(A) Price increase in raw materials

(B) Price decrease in raw materials

(C) Less than anticipated normal wastage in the manufacturing process

(D) More than anticipated normal wastage in the manufacturing process

(A) Price increase in raw materials

(A) Relationship between revenue and costs at various levels of output

(B) Volume or output level at which the enterprises break-even

(C) Amount of sales revenue needed to cover enterprise variable costs

(D) Amount of sales revenue needed to cover enterprise fixed costs

(B) Volume or output level at which the enterprises break-even

(A) $${frac{1}{3}^{{ ext{rd}}}}{ ext{of Notional Profit}} imes frac{{{ ext{Cash received}}}}{{{ ext{Work certified}}}}$$

(B) $${frac{1}{2}^{{ ext{nd}}}}{ ext{of Notional Profit}} imes frac{{{ ext{Cash received}}}}{{{ ext{Work certified}}}}$$

(C) $${frac{2}{3}^{{ ext{rd}}}}{ ext{of Notional Profit}} imes frac{{{ ext{Cash received}}}}{{{ ext{Work certified}}}}$$

(D) $${ ext{Full Notional Profit}}$$

(C) $${frac{2}{3}^{{ ext{rd}}}}{ ext{of Notional Profit}} imes frac{{{ ext{Cash received}}}}{{{ ext{Work certified}}}}$$

(A) 49,000

(B) 70,000

(C) 21,000

(D) 91,000

(C) 21,000

(A) process costing

(B) activity based costing

(C) marginal costing

(D) standard costing

(B) activity based costing

Costing - Study Mode