Exam Questions – Page 2

Question on Marginal and Absorption Costing Technicques

Cost Accounting, Exam Questions / By Charles Izuoba

Questions on Marginal Costing Techniques Your name Nig. Ltd presents you with the following data about its operations for the quarter ended 31/12/2015 Selling price per liter N50 Direct material per liter N20 Direct labor per liter N15 Variable production overhead per liter N5 Fixed production overhead cost N600,000 Other fixed costs N100,000 Sales commission per liter N3 Quantity sold 180,000 liters Closing …

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10 Questions on Consumers Behaviour (Economics)

Exam Questions / By Charles Izuoba

“Section A” Questions on Consumers Behaviour 1. If the price of commodity Y decreases, all other things remaining constant the consumer equilibrium quantity will a. increase b. decrease c. remain constant d. either increase or decrease 2. An increase in the price of Y will a. increase the equilibrium quantity bought b. decrease consumer …

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Questions on Budgeting (Cost Accounting)

Exam Questions / By Charles Izuoba

Budgeting Question 1 CharllyCARES Nig Ltd sells one product, in the year 2010, his budget income statement shows the following: Sales; 5,000 units at N2 per unit Cost; Fixed cost N4,000 will remain constant during the year Variable Cost; N1 per unit The management of the company has concluded that the budget does not meet …

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Questions On Process Costing +Video Guide

Exam Questions / By Charles Izuoba

Process Costing Question 1 In the account details recorded for CharllyCARES Nig Ltd. There was an input material transferred from Process A account which is 12,000 units. The cost of labor was N15,000 while the factory overhead cost was N15,000. The final output was 11,000kg with a normal loss of 5%. You are required to …

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