RECAP - Cost by element

RECAP - Cost by element

University

9 Qs

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RECAP - Cost by element

RECAP - Cost by element

Assessment

Quiz

Other

University

Easy

Created by

Hannah Page

Used 6+ times

FREE Resource

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are materials costs?

The costs of business employees

The costs of purchasing goods to be resold

The costs of purchases of raw materials

The costs incurred by the organisation other than labour and materials

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are labour costs?

The costs of business employees

The costs of purchasing goods to be resold

The costs of purchases of raw materials

The costs incurred by the organisation other than labour and materials

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are overhead costs?

The costs of business employees

The costs of purchasing goods to be resold

The costs of purchases of raw materials

The costs incurred by the organisation other than labour and materials

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which element of cost includes rent, rates, heat and light, cleaning, advertising, etc.?

Materials

Labour

Overheads

None of the above

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost of purchasing tea leaves for teabag production classified as?

Materials

Labour

Overheads

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost of rent for Lord Grey's head office classified as?

Materials

Labour

Overheads

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost of paper used in teabag production classified as?

Materials

Labour

Overheads

None of the above

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost of wages for staff who make teabags classified as?

Materials

Labour

Overheads

None of the above

9.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cost of hotel reception staff hourly wages classified as?

Materials

Labour

Overheads

None of the above