Cost Classification MCQ with Answers | Cost Accounting MCQs (Free Resource)

Cost Classification MCQ with Answers

Cost Classification
Cost Classification

1. _____________ cost is imputed cost.
a) Interest on Capital
b) Variable
c) Out of pocket
d) Opportunity

2. Interest on capital is ___________.
a) Overheads Cost
b) Imputed Cost
c) Sunk Cost
d) Avoidable Cost

3. Drawing office salaries ____________ overheads.
a) Factory
b) Office
c) Selling
d) Distribution

4. Prime cost is ____________ cost.
a) Direct Cost
b) Indirect Cost
c) Factory Cost
d) Production Cost

5. Overheads are ________ cost.
a) Direct Cost
b) Indirect Cost
c) Production Cost
d) Variable Cost

6. Factory Cost is = Prime Cost + _________ .
a) Direct Cost
b) Factory Overheads
c) Cost of Production
d) None of the above

7. Cost of Production is = Factory Cost + __________ .
a) Factory Overheads
b) Office overheads
c) Direct Cost
d) Prime Cost

8. Cost of Sales = Cost of Production + __________ .
a) Selling Overheads
b) Direct Cost
c) Factory Overheads
d) Factory cost

9. Sales = Total ________ + Profit.
a) Production
b) Price
c) Cost
d) Overheads

10. In costing stock valuation is done at __________ .
a) Cost of Production
b) Cost of Material
c) Cost of Finished Goods
d) Cost of Sale

Answers: 1)Interest on Capital 2)Imputed Cost 3)Factory 4)Direct Cost 5)Indirect Cost 6)Factory Overheads 7)Office overheads 8)Selling Overheads 9)Cost 10)Cost of Production

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  1. March 12, 2022

    […] Classification of Costs and Cost Sheets […]

  2. March 17, 2022

    […] Classification of Costs […]

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