Process Costing MCQs



MCQs 1-10

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1. Which of the following System applies when standardized goods are produced under a series of inter-connected operations?

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2. Factory overhead should be allocated on the basis of?

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3. The cost of material that is not completely processed, would be found in which of the following inventory account on the Balance Sheet?

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4. In a process costing system, the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a?

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5. The statement prepared under process costing is called?

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6. The first step in preparing the production cost report is to?

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7. A Company had no beginning work in process. During the period, 5,000 units were completed, and there were 500 units of ending work in process. How many units were started in production?

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8. Which cost accumulation procedure is best suited to a continuous mass production process of similar units?

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9. Which of the following accounts is similar to the Inventory account of a merchandising company?

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10. Finished Goods Inventory decreases by the?

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MCQs 11-20

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