Product Costing Systems MCQs

Previous Practice: Factory Overhead MCQs

Next Practice: Process Costing MCQs

MCQs 1-10

Click The Option and See Result

1. Which of the following costs are treated as period costs under direct costing?

Correct! Wrong!

2. Materials requisitioned from the storeroom included Rs. 1,000 of direct materials and Rs. 2,000 of indirect materials. Manufacturing overhead should be debited for what amount to record the transaction?

Correct! Wrong!

3. At what point are manufacturing costs expensed?

Correct! Wrong!

4. Costs a company incurs that are not product costs are referred to as?

Correct! Wrong!

5. Which of the following accounts does not appear on the Balance Sheet?

Correct! Wrong!

6. The three components of product cost include?

Correct! Wrong!

7. Which of the following is not classified as a fixed product cost?

Correct! Wrong!

8. When direct materials are used, which of the following accounts increases?

Correct! Wrong!

9. Finished Goods Inventory includes which of the following costs?

Correct! Wrong!

10. When a product is sold to a customer, which of the following inventory accounts is increased or decreased?

Correct! Wrong!


>> Inventory Management Problems and Solutions

Facebook Handel


Cost Accounting For Dummies – By Kenneth W. Boyd

Fundamentals Of Cost Accounting – By William Lanen, Shannon Anderson Et.Al

Cost Accounting Fundamentals – By Steven M. Bragg

Cost Accounting Made Simple – By Mike Piper

Principles Of Cost Accounting – By Maria R. Mitchell

Fundamentals Of Cost Accounting 5th Edition – By William Lanen, Shannon Anderson, And Michael Maher

1 Comment

  1. I would like more of these multiple choice questions please, they really helped alot.