WAM and Spoilage Notes Questions with Answers PDF Download – Test 167

MCQ 831: If the cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be:

1. $10
2. $100
3. $1,000
4. $1,200

MCQ 832: The first step in decision making process is to:

1. identify the problem
2. identify the linear variable
3. identify the certainty
4. identify the multiplier

MCQ 833: If the price variance is $30 and the budgeted input price is $80, then an actual price would be:

1. −$110
2. −$50
3. $110
4. $50

MCQ 834: Total cost of producing similar products divided by number of units produced is a technique known as:

1. sale costing system
2. job costing system
3. price costing system
4. process costing system

MCQ 835: The method, which allocates cost of support department for operating departments by recognizing all the mutual services provided is classified as:

1. indirect method
2. direct method
3. step down method
4. reciprocal method