JOC COSTING

JOC COSTING

University

10 Qs

quiz-placeholder

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JOC COSTING

JOC COSTING

Assessment

Quiz

Education

University

Medium

Created by

laili ismail

Used 19+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Job Order Costing?

A method of costing where work is undertaken to customer's specific requirements on the basis of orders

A method of costing where work is undertaken to customer's specific requirements on the basis of estimates

A method of costing where work is undertaken to customer's general requirements

A method of costing where work is undertaken without any specific requirements

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is unit cost computed in Job Order Costing?

By dividing the total job cost by the total number of jobs

By dividing the total job cost by the units produced on the job

By dividing the total job cost by the total direct material cost

By dividing the total job cost by the total direct labour cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of Predetermined Overhead Rate (POR)?

To calculate the total manufacturing overhead cost

To calculate the total direct material cost

To establish the relationship between estimated overhead cost and expected allocation base

To calculate the total direct labour cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate Predetermined Overhead Rate (POR)?

Total direct material cost/Total direct labour cost

Total job cost/Units produced on the job

Estimated overhead cost/Expected allocation base

Total manufacturing overhead cost/Total direct material cost

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is the output price determined in Job Order Costing?

By applying manufacturing overhead to the job

By calculating the Predetermined Overhead Rate (POR)

By dividing the total job cost by the units produced on the job

By calculating the total direct material cost

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the characteristic of products produced in Job Order Costing?

Produced based on company's internal needs

Produced without any specific requirements

Produced in large quantities

Produced based on customer order and specification

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is manufacturing overhead cost assigned in Job Order Costing?

By calculating Predetermined Overhead Rate (POR) and applying it to the job

By dividing the total job cost by the units produced on the job

By calculating the total direct material cost

By calculating the total direct labour cost

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