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Job Costing – MCQs
46 questions. Click to practice.
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1.
In an accounting system, what is the term for the document that contains all the costs allocated to a particular job?
record of job costs
cost sheet for the job
original source document
both A and B
2.
What term is used to describe one or more units of unique services or products?
expense
job
entry
charge
3.
What term is used to describe the average cost assigned to each identical unit produced?
per unit cost
per post cost
per price cost
application cost
4.
What term describes a collection of individual indirect cost elements grouped together?
direct cost group
cost pool
indirect cost cluster
item collection
expense bundle
5.
In normal costing, what term describes the condition when the allocated indirect costs exceed the actual indirect costs incurred?
actual indirect cost incurred
overapplied indirect cost
allocated indirect cost
applied direct cost
underapplied indirect cost
6.
What is the process called that involves assigning indirect costs to a specific cost object?
cost allocation
sales tracing
sales allocation
cost tracing
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