Question $1$:$-$ An average cost is also known as:

a$)$ Variable cost

b$)$ Unit cost

c$)$ Total cost

d$)$ Fixed cost

Question $2$:$-$ The term Cost apportionment is referred to:

a$)$ The costs that can not be identified with specific cost centers.

b$)$ The total cost of factory overhead needs to be distributed among specific cost centers but must be divided

among the concerned department$/$cost centers.

c$)$ The total cost of factory overhead needs to be distributed among specific cost centers.

d$)$ None of the given options

Question $3$:$-$ Examples of industries that would use process costing include all of the following EXCEPT:

a$)$ Beverages

b$)$ Food

c$)$ Hospitality

d$)$ Petroleum

Question $4$:$-$ While constructing a Break even chart, the gap between sales line and variable cost line shows

which of the following?

a$)$ Contribution margin

b$)$ Fixed cost

c$)$ Break even point

d$)$ Variable cost

Question $5$:$-$ All of the following compose cost of goods sold EXCEPT:

a$)$ Raw material

b$)$ Labor

c$)$ Capital

d$)$ Factory overhead