Palgrave Macmillan: Companion website for Collis - Business Accounting: Chapter 15

A job card shows:
1. the instructions to be carried out for the completion of the job
2. all the costs incurred on a job
3. the calculation of the overhead absorption rate
4. the selling price quoted to the customer
To calculate the unit cost of production for a period using output costing:
1. depreciation of fixed assets is included
2. depreciation of fixed assets is excluded
3. capital expenditure on fixed assets is included
4. capital expenditure on fixed assets is excluded
The cost of materials in a service organisation is usually:
1. higher than labour costs
2. lower than labour costs
3. the same as labour costs
4. there are never any material costs
In process costing, the costs incurred for the period apply to:
1. completed units only
2. work in progress only
3. both completed units and work in progress
4. wastage only
If there are 10,000 units which are 25% finished at the end of the period, the number of equivalent units is:
1. 2,500
2. 7,500
3. 25,000
4. 25,000
In process costing, abnormal losses:
1. carry their share of the costs of normal losses
2. do not carry their share of the costs of normal losses
3. do not carry their share of the costs of normal losses
4. are set against abnormal gains

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