Cost Accounting

Question 1

Standard Cost

Answer 1

-

Question 2

Standard Price (SP)

Answer 2

-

Question 3

SP

Answer 3

Standard Price

Question 4

Standard Quantity (SQ)

Answer 4

-

Question 5

SQ

Answer 5

Standard Quanity

Question 6

Standard Rate (SR)

Answer 6

-

Question 7

SR

Answer 7

Standard Rate

Question 8

Standard Hours (SH)

Answer 8

-

Question 9

SH

Answer 9

Standard Hours

Question 10

Material Price Variance

Answer 10

-

Question 11

MPV

Answer 11

Material Price Variance

Question 12

Material Usage Variance (MUV)

Answer 12

-

Question 13

MUV

Answer 13

Material Usage Variance

Question 14

Labor Rate Variance (LRV)

Answer 14

-

Question 15

LRV

Answer 15

Labor Rate Variance

Question 16

Labor Efficiency Variance (LEV)

Answer 16

-

Question 17

LEV

Answer 17

Labor Efficiency Variance

Question 18

Overhead Spending Variance (OSV)

Answer 18

-

Question 19

OSV

Answer 19

Overhead Spending Variance

Question 20

Overhead Efficiency Variance (OEV)

Answer 20

-

Question 21

OEV

Answer 21

Overhead Efficiency Variance

Question 22

Overhead Volume Variance (OVV)

Answer 22

-

Question 23

OVV

Answer 23

Overhead Volume Variance

Question 24

Job Order Costing

Answer 24

-

Question 25

Process Costing

Answer 25

-

Question 26

Equivalent Production

Answer 26

-

Question 27

Process Costing Using the Weighted-Average Approach

Answer 27

-

Question 28

Process Costing Using the FIFO Approach

Answer 28

-

Question 29

Joint Products

Answer 29

-

Question 30

By-Product

Answer 30

-

Question 31

Joint Costs

Answer 31

-

Question 32

Split-Off Point

Answer 32

-

Question 33

Joint Product Costing

Answer 33

-