1. Identify the product cost for a business from the following:
a  Depreciation of factory machines
b Depreciation of accounting department furniture
c Depreciation of admin building
d Depreciation delivery vehicles


2. Which one of the following can be allocated directly to a cost center?  
a Rent of manufacturing machine
b Wages of workers
c All of these
d Salary of the supervisor

 
3. When units are transferred to finished goods stock from production, a journal entry should be recorded which is:
a  Dr. Finished goods Cr. Cost of goods sold
b Dr. Work in process Cr. Finished goods
c Dr. Finished goods Cr. Work in process
d Dr. Cost of goods sold Cr. Finished goods

Answer rating: 100% (QA)

Q1 Option A Q2 Option C Q3 Option C Q1 Product cost refers to the cost of manu... View the full answer