MBA Cost Accounting Practice Test 115

Process Costing System Quiz PDF: Questions and Answers - 115

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Process Costing System Questions and Answers PDF Download: Quiz 115

MCQ 571: The fifth step in process costing system is to

A) allocate separable costs

B) allocate joint costs

C) compute gross margin

D) assign total cost to completed units

MCQ 572: An assumption of specification analysis states: any observation does not belong to any other observation's residual value, is classified as

A) independence of residuals

B) dependence of residuals

C) independence of correlation

D) none of the above

MCQ 573: The process of analyzing and reviewing financial records to check the integrity of company financial reports is called

A) internal audit

B) external audit

C) functional audit

D) treasury audit

MCQ 574: The most frequently used methods of quantitative analysis include

A) variable equation

B) high low method

C) low high method

D) constant equation

MCQ 575: The timeframe between placement of order until a finished good produces is classified as

A) customer response time

B) manufacturing lead time

C) manufacturing cycle time

D) both b and c

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