{"id":16907,"date":"2022-03-30T15:39:43","date_gmt":"2022-03-30T10:09:43","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=16907"},"modified":"2026-02-09T21:38:50","modified_gmt":"2026-02-09T16:08:50","slug":"cost-control-accounts-mcqs","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/cost-control-accounts-mcqs\/","title":{"rendered":"50+ Cost Control Accounts MCQ&#8217;s | Cost Accounting (Free Resource)"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-text-align-center\">Cost Control Accounts MCQ&#8217;s<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/cost-accounting-mcq\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/cost-accounting-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">MCQs on other topics of Cost Accounting<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" data-type=\"URL\" data-id=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Cost Accounting MCQs pdf<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>1. Materials Requisition Note<\/strong><br>(a) authorises and records the issue of materials for use<br>(b) records the return of unused materials<br>(c) records the transfer of materials from one store to another<br>(d) a classified record of materials, issues, returns and transfers<\/p>\n\n\n\n<p><strong>2. Materials Transfer Note<\/strong><br>(a) authorises and records the issue of materials for use<br>(b) records the return of unused materials<br>(c) records the shifting of materials from one store to another<br>(d) a classified record of materials, issues, returns and transfers<\/p>\n\n\n\n<p><strong>3. A document which is a classified record of material issues, returns and transfers<\/strong><br>(a) Materials Requisition Note <br>(b) Materials Return Note<br>(c) Materials Transfer Note <br>(d) Materials Issue Analysis Sheet<\/p>\n\n\n\n<p><strong>4. This is essential to make the cost ledger &#8216;self-balancing\u2019.<\/strong><br>(a) General Ledger Adjustment Account <br>(b) Stores Ledger Control Account<br>(c) Work-in-Progress Ledger <br>(d) Finished Goods Control Account<\/p>\n\n\n\n<p><strong>5. This is debited with all purchases of materials for the stores and credited with all issues of materials<\/strong><br>(a) General Ledger Adjustment Account <br>(b) Stores Ledger Control Account<br>(c) Work-in-Progress Ledger <br>(d) Finished Goods Control Account<\/p>\n\n\n\n<p><strong>6. In this, cost of materials, wages and overheads of each job undertaken is posted.<\/strong><br>(a) General Ledger Adjustment Account <br>(b) Stores Ledger Control Account<br>(c) Work-in-Progress Ledger <br>(d) Finished Goods Control Account<\/p>\n\n\n\n<p><strong>7. This represents the total value of finished goods in stock.<\/strong><br>(a) General Ledger Adjustment Account <br>(b) Stores Ledger Control Account<br>(c) Work-in-Progress Ledger <br>(d) Finished Goods Control Account<\/p>\n\n\n\n<p><strong>8. Material amounting to&nbsp;Rs&nbsp;58,300 is&nbsp;purchased on credit.<\/strong><br>The entry in Cost Ledger under non-integrated System is<br><br>(a) Purchases A\/c Dr. 58,300<br>                    To Sundry Creditors 58,300<br><br>(b) Stores Ledger Control A\/c Dr. 58,300<br>                    To General Ledger Adjustment A\/c 58,300<br><br>(c) Purchases A\/c Dr. 58,300<br>                    To Cost Ledger Control A\/c 58,300<br><br>(d) Work-in-Progress Control A\/c Dr. 58,300<br>                    To General Ledger Adjustment A\/c 58,300<\/p>\n\n\n\n<p><strong>9.&nbsp;Salaries and wages&nbsp;amounting to&nbsp;Rs&nbsp;62,100 gross and earned by the employees, and deductions of&nbsp;Rs 5,400 as provident fund.&nbsp;Rs&nbsp;2,400 as ESIC and&nbsp;Rs&nbsp;4,300 as Income Tax are made from the gross amount.<\/strong><br>The entry in Cost Ledger under non-integrated System is<br><br>(a) Salaries and Wages Control A\/c Dr. 62,100<br>                      To General Ledger Adjustment A\/c 62,100<br><br>(b) Salaries and Wages Control A\/c Dr. 50,000<br>                      To General Ledger Adjustment A\/c 50,000<br><br>(c) Salaries and Wages Control A\/c Dr. 62,100<br>                      To Cost Ledger Adjustment A\/c 62,100<\/p>\n\n\n\n<p>d) Salaries and Wages Control A\/c Dr. 62,100<br>                      To Provident Fund A\/c 5,400<br>                      To E.S.I.C. A\/c 2,400<br>                      To Income-tax A\/c 4,300<br>                      To General Ledger Adjustment A\/c 50,000<\/p>\n\n\n\n<p><strong>10. A concern has a non-integrated costing system.&nbsp;Salaries and wages&nbsp;analysis book indicates the following breakup : <\/strong><br>Direct wages&nbsp;Rs&nbsp;38,600<br>Indirect factory wages&nbsp;Rs&nbsp;9,500<br>Administrative salaries&nbsp;Rs&nbsp;9,700<br>Selling and distribution salaries&nbsp;Rs&nbsp;4,300<br>Which of the following statements is false-<br>(i) No additional entry is passed in financial books for break-up.<br>(ii) Work-in-progress Ledger Control A\/c will be debited with&nbsp;Rs&nbsp;38,600.<br>(iii) Salaries and Wages Control A\/c will be debited with&nbsp;Rs&nbsp;62,100.<br><br>(a) only (i) <br>(b) All<br>(c) only (iii) <br>(d) None<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">1)authorises and records the issue of materials for use  2)records the shifting of materials from one store to another. 3)Materials Issue Analysis Sheet  4)General Ledger Adjustment Account <br><\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">5)Stores Ledger Control Account  6)Work-in-Progress Ledger. 7)Finished Goods Control Account  8)b  9)a  10)c<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-1024x576.webp\" alt=\"Cost Control Accounts MCQ&#039;s\" class=\"wp-image-17015 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-1024x576.webp 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-300x169.webp 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-768x432.webp 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-1536x864.webp 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs-640x360.webp 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2022\/03\/Cost-Control-Accounts-MCQs.webp 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">Cost Control Accounts MCQ&#8217;s<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/cost-accounting-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">MCQs on other topics of Cost Accounting<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>11. In a non-integrated system of accounting, the emphasis is on,<\/strong><br>(a) Personal accounts <br>(b) Real accounts<br>(c) Nominal accounts <br>(d) All of these<\/p>\n\n\n\n<p><strong>12. Cost and financial accounts are required to be reconciled under<\/strong><br>(a) Integral system <br>(b) Cost control accounts system<br>(c) Under both (a) and (b) <br>(d) None of these<\/p>\n\n\n\n<p><strong>13. Which of the following accounts makes the cost ledger self-balancing ?<\/strong><br>(a) Overhead adjustment account <br>(b) Costing P &amp; L account<br>(c) Cost ledger control account <br>(d) None of the above<\/p>\n\n\n\n<p><strong>14. Purchases for special jobs&nbsp;is debited under non-integrated system to<\/strong><br>(a) Work-in-progress ledger control account <br>(b) Cost ledger control account<br>(c) Stores ledger control account <br>(d) Purchases account<\/p>\n\n\n\n<p><strong>15. The following documents are used in accounting for raw materials:<\/strong><br>(i) Goods received note <br>(ii) Materials returned note<br>(iii) Materials requisition note <br>(iv) Delivery note<br>Which of the documents may be used to record raw materials sent back to stores from production?<br>(a) (i) and (ii) <br>(b) (i) and (iv)<br>(c) (ii) only <br>(d) (ii) and (iii)<\/p>\n\n\n\n<p><strong>16. The raw materials issued to a job were overestimated and the excess is being sent back to the materials store. What document is required? <\/strong><br>(a) Stores credit note <br>(b) Stores debit note<br>(c) Materials returned note <br>(d) Materials transfer note<\/p>\n\n\n\n<p><strong>17. What is an interlocking bookkeeping system?<\/strong><br>(a) A single, combined system containing both cost accounting and financial accounting records<br>(b) A system combining cost accounting and management accounting<br>(c) A system with high secured access<br>(d) A system where separate accounts are kept for cost accounting and for financial accounting<\/p>\n\n\n\n<p><strong>18. What is a cost ledger control account?<\/strong><br>(a) An account in the cost ledger to record financial accounting items<br>(b) An account in the financial ledger to record cost accounting items<br>(c) An account that summarises outstanding payables balances<br>(d) An account that summarises outstanding receivables balances<\/p>\n\n\n\n<p><strong>19. The advantages of maintaining cost control accounts include the following:<\/strong><br>(a) facilitate prompt preparation of costing profit and loss account<br>(b) help management in policy formulation<br>(c) facilitate internal check<br>(d) all of the above<\/p>\n\n\n\n<p><strong>20. The Work-in-Progress Control Account is not debited with :<\/strong><br>(a) direct materials and direct labour <br>(b) direct expenses<br>(c) production overheads (recovered) <br>(d) selling and distribution overheads<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">11)Nominal accounts  12)Cost control accounts system  13)Cost ledger control account<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">14)Work-in-progress ledger control account<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">15)(ii) only<\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">16)Materials returned note  17)A system where separate accounts are kept for cost accounting and for financial accounting  18)An account in the cost ledger to record financial accounting items  19)all of the above  20)selling and distribution overheads<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/cost-accounting-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">MCQs on other topics of Cost Accounting<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>21. The application of factory overheads usually would be recorded as an increase in<\/strong><br>(a) Cost of goods sold <br>(b) Work-in-progress control<br>(c) Factory overheads control <br>(d) Finished goods control<\/p>\n\n\n\n<p><strong>22. The debit balance of the overheads adjustment account may be transferred to<\/strong><br>(a) Cost of sales account <br>(b) Profit and loss account<br>(c) Finished goods account <br>(d) Work-in-progress account<\/p>\n\n\n\n<p><strong>23. Materials lost in stores due to fire is<\/strong><br>(a) a part of normal loss and hence part of cost<br>(b) capitalized<br>(c) a part of abnormal loss and hence excluded from cost<br>(d) transferred to the next period<\/p>\n\n\n\n<p><strong>24. A credit to Work in Process Inventory represents<\/strong><br>(a) work still in process<br>(b) raw material put into production<br>(c) the application of overhead to production<br>(d) the transfer of completed items to Finished Goods Inventory<\/p>\n\n\n\n<p><strong>25. A journal entry includes a debit to Work in Process Inventory and a credit to Raw Material Inventory. The explanation for this would be that <\/strong><br>(a) indirect material was placed into production<br>(b) raw material was purchased on account<br>(c) direct material was placed into production<br>(d) direct labour was used for production<\/p>\n\n\n\n<p><strong>26. The journal entry to apply overhead to production includes a credit to Manufacturing Overhead control and a debit to <\/strong><br>(a) Finished Goods Inventory <br>(b) Work in Process Inventory<br>(c) Cost of Goods Sold <br>(d) Raw Material Inventory<\/p>\n\n\n\n<p><strong>27. The use of indirect material would usually be reflected as an increase in<\/strong><br>(a) Stores control <br>(b) Work in process control<br>(c) Manufacturing overhead applied <br>(d) Manufacturing overhead control<\/p>\n\n\n\n<p><strong>28. A credit to the Manufacturing overhead control account represents the<\/strong><br>(a) actual cost of overhead incurred<br>(b) actual cost of overhead paid this period<br>(c) amount of overhead applied to production<br>(d) amount of indirect material and labour used during the period<\/p>\n\n\n\n<p><strong>29. When employees assemble products<\/strong><br>(a) Cost of goods manufactured decreases <br>(b) Work in process inventory increases<br>(c) Work in process inventory decreases <br>(d) Manufacturing overhead decreases<\/p>\n\n\n\n<p><strong>30. W Corporation\u2019s production department used&nbsp;Rs&nbsp;64,000 of materials to manufacture products during May. Which one of the following is one effect of recording this transaction? <\/strong><br>(a) Raw materials increases by&nbsp;Rs&nbsp;64,000<br>(b) Manufacturing overhead increases by&nbsp;Rs&nbsp;64,000<br>(c) Cost of goods sold increases by&nbsp;Rs&nbsp;64,000<br>(d) Work in process increases by&nbsp;Rs&nbsp;64,000<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>21)Work-in-progress control  22)Profit and loss account  23)a part of abnormal loss and hence excluded from cost<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 24)the transfer of completed items to Finished Goods Inventory  25)direct material was placed into production  26)Work in Process Inventory  27)Manufacturing overhead control  28)amount of overhead applied to production<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">  29)Work in process inventory increases  30)Work in process increases by&nbsp;Rs&nbsp;64,000<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/cost-accounting-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\">MCQs on other topics of Cost Accounting<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>31. The Finished Goods account contains the cost of all units<\/strong><br>(a) Unfinished at a given point in time <br>(b) Completed at a given point in time<br>(c) Produced during a particular period <br>(d) Produced and sold during a particular period<\/p>\n\n\n\n<p><strong>32. The work in process account is credited when<\/strong><br>(a) Production of product is completed <br>(b) Products are sold to customers<br>(c) Completed goods are shipped to buyers <br>(d) Costs of production are incurred<\/p>\n\n\n\n<p><strong>33. Which account balances will decrease as a result of completing products during the month?<\/strong><br>(a) Only work-in-process inventory<br>(b) Only finished goods inventory<br>(c) Both work-in-process and finished goods ending balances will decrease<br>(d) Neither account ending balance would increase; both would increase<\/p>\n\n\n\n<p><strong>34. T Company completed two jobs whose costs total to&nbsp;Rs&nbsp;1,20,000. Which one of the following is one effect of this transaction? <\/strong><br>(a) Manufacturing Overhead increases by Rs&nbsp;1,20,000<br>(b) Cost of Goods Sold increases by&nbsp;Rs&nbsp;1,20,000<br>(c) Work in Process decreases by&nbsp;Rs&nbsp;1,20,000<br>(d) Finished Goods decreases by&nbsp;Rs&nbsp;1,20,000<\/p>\n\n\n\n<p><strong>35. N Corporation incurred&nbsp;Rs&nbsp;8,000 indirect labour and&nbsp;Rs&nbsp;42,000 direct labour. Which one of the following is one effect of recording this transaction? <\/strong><br>(a) Indirect labour increases by&nbsp;Rs&nbsp;8,000<br>(b) Work in process increases by Rs&nbsp;50,000<br>(c) Manufacturing costs increase by&nbsp;Rs&nbsp;42,000<br>(d) Manufacturing overhead increases by&nbsp;Rs&nbsp;8,000<\/p>\n\n\n\n<p><strong>36. The balance of the Work in Process account is equal to<\/strong><br>(a) The total costs of the jobs completed<br>(b) The total costs of the jobs completed and sold<br>(c) The total manufacturing costs incurred during the period<br>(d) The total costs of the incomplete jobs<\/p>\n\n\n\n<p><strong>37. What entry should be made when a job is completed?<\/strong><br>(a) A debit to Finished Goods Inventory, and a credit to Work in Process Inventory<br>(b) A debit to Work in Process Inventory, and a credit to Direct Materials, Direct Labour and Manufacturing Overhead<br>(c) A debit to Finished Goods Inventory and a credit to Direct Materials, Direct Labour, and Manufacturing Overhead<br>(d) A debit to Cost of Goods Sold Inventory, and a credit to Work in Process Inventory<\/p>\n\n\n\n<p><strong>38. When indirect materials are requisitioned the _______ account is increased.<\/strong><br>(a) Manufacturing Overhead Control <br>(b) Work-in-Process Control<br>(c) Materials Control <br>(d) Accounts Payable Control<\/p>\n\n\n\n<p><strong>39. The Manufacturing Overhead Control account<\/strong><br>(a) is increased by allocated manufacturing overhead<br>(b) is credited with amounts transferred to Work-in-Process<br>(c) is decreased by allocated manufacturing overhead<br>(d) is debited with actual overhead costs<\/p>\n\n\n\n<p><strong>40. A company\u2019s accounting system operates so that the cost accounts are independent of thefinancial accounts. The two sets of accounts are reconciled on a regular basis to keep themcontinuously in agreement. This type of accounting system is known as<\/strong><br>(a) Independent accounts <br>(b) Interlocking accounts<br>(c) Reconciled accounts <br>(d) Integrated accounts<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>31)Completed at a given point in time  32)Production of product is completed  33)Only work-in-process inventory  34)Work in Process decreases by&nbsp;Rs&nbsp;1,20,000  35)Manufacturing overhead increases by Rs&nbsp;8,000  36)The total costs of the incomplete jobs  37)A debit to Finished Goods Inventory, and a credit to Work in Process Inventor  38)Manufacturing Overhead Control<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 39)is debited with actual overhead costs<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 40)Interlocking accounts<\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>41. In May, material requisitions were&nbsp;Rs&nbsp;44,000 (Rs&nbsp;39,000 of these were direct materials), and raw material purchases were&nbsp;Rs&nbsp;57,700. The end of month balance in raw materials inventory a\/c was&nbsp;Rs 24,300. What was the beginning raw materials inventory a\/c balance?<\/strong><br>(a)&nbsp;Rs&nbsp;10,600 <br>(b)&nbsp;Rs&nbsp;43,000<br>(c)&nbsp;Rs&nbsp;72,400 <br>(d)&nbsp;Rs&nbsp;25,300<\/p>\n\n\n\n<p><strong>42. Overallocated manufacturing overhead results when<\/strong><br>(a) production is less than last year<br>(b) estimated overhead is less than actual overhead<br>(c) actual overhead is less than allocated overhead<br>(d) actual overhead is less than expected<\/p>\n\n\n\n<p><strong>43. Determining how much manufacturing overhead is overallocated or underallocated<\/strong><br>(a) is done before the period starts <br>(b) is done during the period<br>(c) can be done at any time <br>(d) is done at the end of the period<\/p>\n\n\n\n<p><strong>44. The journal entry to record the use of direct materials on jobs is to debit work in process inventory and credit <\/strong><br>(a) raw materials inventory <br>(b) finished goods inventory<br>(c) manufacturing overhead <br>(d) wages payable<\/p>\n\n\n\n<p><strong>45. Cost of goods sold is debited and finished goods inventory is credited for<\/strong><br>(a) purchase of goods on account<br>(b) transfer of goods to the finished goods storeroom<br>(c) transfer of materials into work in process inventory<br>(d) the sale of goods to a customer<\/p>\n\n\n\n<p><strong>46. Under which of the following situations is finished goods inventory debited and work in process inventory credited? <\/strong><br>(a) Transfer of goods to the finished goods storeroom<br>(b) Purchase of goods on account<br>(c) Transfer goods out of the factory<br>(d) Transfer of material to work in process inventory<\/p>\n\n\n\n<p><strong>47. Under which of the following situations is raw materials inventory credited and work in process inventory debited? <\/strong><br>(a) We ship goods to the customer <br>(b) Material is transferred to the factory<br>(c) We transfer goods to the storeroom <br>(d) We purchase goods on account<\/p>\n\n\n\n<p><strong>48. The cost of direct materials used in production is debited to<\/strong><br>(a) either manufacturing overhead or work in process<br>(b) finished goods inventory<br>(c) work in process<br>(d) manufacturing overhead<\/p>\n\n\n\n<p><strong>49. The cost of direct labour used in production is recorded as a<\/strong><br>(a) debit to work in process <br>(b) debit to manufacturing overhead<br>(c) debit to wages expense <br>(d) debit to wages payable<\/p>\n\n\n\n<p><strong>50. The cost of indirect labour used in the factory is recorded as a<\/strong><br>(a) credit to work in process <br>(b) debit to manufacturing overhead<br>(c) credit to wages payable <br>(d) debit to wages expense<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>41)Rs&nbsp;10,600  42)actual overhead is less than allocated overhead  43)is done at the end of the period<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 44)raw materials inventory  45)the sale of goods to a customer  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">46)Transfer of goods to the finished goods storeroom  47)Material is transferred to the factory  48)work in process<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 49)debit to work in process<\/mark><\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">50)debit to manufacturing overhead  <\/mark>  <\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>51. The journal entry needed to record the completion of a job includes a<\/strong><br>(a) credit to work in process <br>(b) credit to finished goods inventory<br>(c) debit to work in process inventory <br>(d) debit to cost of goods sold<\/p>\n\n\n\n<p><strong>52. The journal entry needed to record the completion of a job includes a<\/strong><br>(a) debit to cost of goods sold <br>(b) debit to work in process<br>(c) debit to finished goods inventory <br>(d) debit to raw materials inventory<\/p>\n\n\n\n<p><strong>53. The journal entry to issue&nbsp;Rs&nbsp;600 of direct materials and&nbsp;Rs&nbsp;40 of indirect materials involves a debit to<\/strong><br>(a) manufacturing overhead for&nbsp;Rs&nbsp;640<br>(b) work in process for&nbsp;Rs&nbsp;640<br>(c) work in process for&nbsp;Rs&nbsp;600 and a credit to manufacturing overhead for&nbsp;Rs&nbsp;40<br>(d) work in process for&nbsp;Rs&nbsp;600 and a debit to manufacturing overhead for&nbsp;Rs&nbsp;40<\/p>\n\n\n\n<p><strong>54. To record the costs of indirect labour, which of the following would be debited?<\/strong><br>(a) Work in process <br>(b) Manufacturing overhead<br>(c) Finished goods inventory <br>(d) Wages payable<\/p>\n\n\n\n<p><strong>55. To record direct labour costs incurred, which of the following would be debited<\/strong><br>(a) Finished goods inventory <br>(b) Manufacturing overhead<br>(c) Work in process <br>(d) Wages payable<\/p>\n\n\n\n<p><strong>56. To record the requisition of direct materials, which of the following would be debited?<\/strong><br>(a) Finished goods inventory <br>(b) Work in process<br>(c) Raw materials inventory <br>(d) Cost of goods manufactured<\/p>\n\n\n\n<p><strong>57. The journal entry to record&nbsp;Rs&nbsp;300 of depreciation expense on factory equipment involves a<\/strong><br>(a) debit to accumulated depreciation for&nbsp;Rs&nbsp;300<br>(b) debit to manufacturing overhead for&nbsp;Rs&nbsp;300<br>(c) debit to depreciation expense for&nbsp;Rs&nbsp;300<br>(d) credit to manufacturing overhead for&nbsp;Rs&nbsp;300<\/p>\n\n\n\n<p><strong>58. Actual manufacturing overhead for the period is&nbsp;Rs&nbsp;20,000 while allocated manufacturing overhead is&nbsp;Rs&nbsp;18,000. What entry will close the manufacturing overhead balance?<\/strong><br>(a) Debit manufacturing overhead and credit work in process for&nbsp;Rs&nbsp;2,000<br>(b) Debit manufacturing overhead and credit cost of goods sold for&nbsp;Rs&nbsp;2,000<br>(c) Debit cost of goods sold and credit finished goods inventory for&nbsp;Rs&nbsp;2,000<br>(d) Debit cost of goods sold and credit manufacturing overhead for&nbsp;Rs&nbsp;2,000<\/p>\n\n\n\n<p><strong>59. A company has overallocated manufacturing overhead by&nbsp;Rs&nbsp;1,500. The entry to close manufacturing overhead account would be to<\/strong><br>(a) debit manufacturing overhead and credit cost of goods sold for&nbsp;Rs&nbsp;1,500<br>(b) debit manufacturing overhead and credit work in process for&nbsp;Rs&nbsp;1,500<br>(c) debit cost of goods sold and credit manufacturing overhead for&nbsp;Rs&nbsp;1,500<br>(d) debit cost of goods sold and credit finished goods inventory for&nbsp;Rs&nbsp;15,000<\/p>\n\n\n\n<p><strong>60. The entry to record cost of goods sold includes a credit to<\/strong><br>(a) Cost of Goods Sold <br>(b) Finished Goods Inventory<br>(c) Sales <br>(d) Work in Process Inventory<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>51)credit to work in process  52)debit to finished goods inventory  53)work in process for&nbsp;Rs&nbsp;600 and a debit to manufacturing overhead for&nbsp;Rs&nbsp;40<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 54)Manufacturing overhead  55)Work in process <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">56)Work in process  57)debit to manufacturing overhead for&nbsp;Rs&nbsp;300  58)Debit cost of goods sold and credit manufacturing overhead for&nbsp;Rs&nbsp;2,000<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"> 59)debit manufacturing overhead and credit cost of goods sold for&nbsp;Rs&nbsp;1,500<\/mark><\/mark>  <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\">60)Finished Goods Inventory  <\/mark>  <\/mark><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Video lectures on Cost Control Accounts MCQ&#8217;s. <a href=\"https:\/\/youtu.be\/0XwjbxYaoDk\" data-type=\"link\" data-id=\"https:\/\/youtu.be\/0XwjbxYaoDk\" target=\"_blank\" rel=\"noopener\">(Part 1)<\/a><\/li>\n\n\n\n<li>Video lectures on Cost Control Accounts MCQ&#8217;s. <a href=\"https:\/\/youtu.be\/w4ZCZLUYy4Y\" data-type=\"link\" data-id=\"https:\/\/youtu.be\/w4ZCZLUYy4Y\" target=\"_blank\" rel=\"noopener\">(Part 2)<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":17015,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,7],"tags":[2322],"class_list":["post-16907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bcom","category-degree-college","tag-cost-control-accounts-mcq"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/16907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=16907"}],"version-history":[{"count":8,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/16907\/revisions"}],"predecessor-version":[{"id":41954,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/16907\/revisions\/41954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/17015"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=16907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=16907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=16907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}