Value Engineering Insurance and Lock In Costs Multiple Choice Questions (MCQ) PDF - 84

MCQ 416: The concept, which states that resources are used to meet particular goals is

1. cost incurrence
2. valued incurrence
3. locked incurrence
4. non valued incurrence

MCQ 417: If the contribution margin is $3000 and the revenues are $9000, then all the variable costs will be

1. $12,000
2. $6,000
3. −$6000
4. −$12000

MCQ 418: The costs that are incurred in last department, where the product has been processed and will be carried to next department for further processing are called

1. partial work costs
2. transferred-in costs
3. transferred-out costs
4. weighted average costs

MCQ 419: In accounting system, a document which consists of all assigned cost for specific job is classified as

1. job cost record
2. job cost sheet
3. source document
4. both a and b

MCQ 420: The method which allocates joint costs of joint products, considering physical measures such as volume or relative weight at point of split off is known as

1. direct cost measure method
2. indirect cost measure method
3. physical-measure method
4. relative-measure method