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Cost Accounting: Production Quiz

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Cost Accounting: Production Quiz

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Factory cost & WIP basics

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poa
poa
Pakistan

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Cost Accounting: Production Quiz
 

Cost Accounting: Production QuizOnline version

Factory cost & WIP basics

by poa
1

Adjusted Factory Cost: Total Factory Cost is 120,000. Opening WIP is 10,000 and Closing WIP is 15,000. Calculate the Cost of Production.

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2

Finding Factory Cost: Cost of Production is 95,000. Opening WIP was 4,000 and Closing WIP was 3,000. What was the Total Factory Cost?

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3

WIP Impact: If Opening WIP is 20,000 and Closing WIP is 12,000, by how much does the Cost of Production increase compared to Factory Cost?

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4

Cost of Goods Sold: Cost of Production is 200,000. Opening Finished Goods are 30,000 and Closing Finished Goods are 25,000. Calculate Cost of Sales.

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5

Missing Production Cost: Cost of Sales is 150,000. Opening Finished Goods were 20,000 and Closing were 22,000. Find Cost of Production.

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6

Total Units: A factory produced 10,000 units at a total cost of 50,000. What is the unit cost of production?

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7

Closing WIP Search: Total Factory Cost is 80,000. Opening WIP is 5,000. If Cost of Production is 82,000, what is the value of Closing WIP?

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8

Manufacturing Profit: Cost of Production is 100,000. The factory "sells" to the warehouse at a 10% profit. What value is transferred to the P&L?

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9

Raw Material Inventory: Opening Material 4,000. Purchases 20,000. If 22,000 was consumed, what is the Closing Raw Material inventory?

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10

Final Check: Prime Cost 60k + Overheads 30k + Opening WIP 5k - Closing WIP 7k. What is the final Cost of Production?

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