
COSTING METHOD: MATERIAL & LABOUR
Authored by DR SITTI SYAMSIAR MUHARRAM
Business
University
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10 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the FIFO method used for?
Evaluate responses using AI:
OFF
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the advantage of a time-based remuneration scheme?
Easy for employees to understand
Strong incentive to increase production
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the advantage of a perpetual inventory system?
Avoiding disruption caused by annual stocktaking
Revealing deficiencies and losses soon
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is direct materials cost?
The cost of material that can be easily identified with the unit of production
The cost of material that is not directly traceable to the product
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are direct labour costs?
The wages, benefits, and insurance paid to employees directly involved in manufacturing
The labour of those not directly involved in production
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
________ are not directly connected to the production of the finished goods.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The total of the direct materials, direct labor, and manufacturing overhead costs associated with producing a specific product or batch of products is called _______ cost.
overhead
production
prime
total
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