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Cost Accounting MCQ Questions

Cost Accounting MCQs - Chapter

Cost Allocation: Joint Products and Byproducts Multiple Choice Questions and Answers PDF p. 1

Practice Cost Allocation Joint Products and Byproducts multiple choice questions and answers, BBA quiz answers PDF to solve Cost Accounting worksheets 1 for online colleges. Solve constant gross margin percentage nrv method MCQs, Cost Allocation Joint Products and Byproducts trivia questions and answers for admission and merit scholarships test. "Cost Allocation Joint Products and Byproducts MCQ" PDF book: constant gross margin percentage nrv method, irrelevant joint costs: decision making, sales value: split off method, joint cost basics, net realizable value method career test for online bachelor's degree in business.

"The first step in constant gross margin percentage, Net realizable value (NRV) method is to allocate joint, to compute" Multiple Choice Questions (MCQ) on cost allocation joint products and byproducts with choices total production cost of each product, gross margin percentage, allocated joint costs, and cost of split off point for free online classes. Practice constant gross margin percentage nrv method quiz questions for jobs' assessment test and online courses for online bachelor's degree in business management.

MCQs on Cost Allocation Joint Products & Byproducts Quiz

1.

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

2.

An additional cost, incurred for some specific activity to bring processed product on to next production stage is

partial cost
relevant cost
incremental cost
irrelevant cost

3.

A joint cost allocation method is based on relative value of total sales, at the point of split off is classified as

sales value at split off method
joint costs at split off point method
joint products value at split off method
main product cost at split off method

4.

In a joint process of production, the product which yields low volume of sales as compared to total sales of other products, specify as

Second incremental product
First incremental product
step down product
byproduct

5.

The difference between final sales value and separable costs is equal to

net income
net realizable value
Gross margin
Gross realizable value