MBA Cost Accounting Practice Tests

MBA Cost Accounting Online Tests

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The MCQ: *Joint cost allocation method, in which individual product from joint products must gain a gross margin percentage is classified as;* "Constant Gross Margin Percentage NRV Method" App Download (Free) with answers: Sales value at split off method; Joint products value at split off method; Constant gross margin percentage NRV method; Gross realizable value method; to study accounting certificate courses. Practice Constant Gross Margin Percentage NRV Method Quiz Questions, download Amazon eBook (Free Sample) for online bachelor degree programs in business administration.

The first step in constant gross margin percentage, Net realizable value (NRV) method is to allocate joint, to compute

- Gross margin percentage
- total production cost of each product
- allocated joint costs
- cost of split off point

a

The joint cost allocation method, in which individual product from joint products must gain a gross margin percentage is classified as

- sales value at split off method
- joint products value at split off method
- constant gross margin percentage NRV method
- Gross realizable value method

c

The second step, in constant gross margin percentage Net Realizable Value (NRV) method, to allocate joint cost is to compute

- allocated joint costs
- cost of split off point
- Gross margin percentage
- total production cost of each product

d

The gross margin is subtracted from sales value of all production to yield

- labor cost incurred on product
- production cost incurred on product
- marketing cost incurred on product
- all of above

b

The percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate

- Gross margin in terms of amount of money
- Gross margin in terms of separable costs
- Gross margin in terms of total cost
- Gross margin in terms of labor cost

a

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