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direct labour, direct materials, overheads, fixed costs, variable costs, prime cost, break even,

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Grade 10 cost accounting quiz

Created by

Curvin
Curvin
South Africa

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direct labour, direct materials, overheads, fixed costs, variable costs, prime cost, break even,
 

direct labour, direct materials, overheads, fixed costs, variable costs, prime cost, break even,Online version

Grade 10 cost accounting quiz

by Curvin
1

Cost accounting helps determine the cost per unit of production.

2

All costs are variable in cost accounting.

3

Variable costs change in total as production volume changes.

4

Fixed costs remain constant in the short run regardless of output level.

5

Contribution margin equals selling price minus total fixed costs.

6

Overhead costs include indirect costs not traced to a single product.

7

Variable costs change in total with production volume.

8

Cost accounting distinguishes fixed and variable costs.

9

Direct labor is always a fixed cost.

10

Prime cost is direct labour + direct materials

 
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