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Team 2
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Teams
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banana
Go to last place!
Oops!
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gold
Win 50 points!
Okay!
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fairy
Take points!
5
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25
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thief
Give points!
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25
15
×
ALL Material costs belongs in the manufacturing account true or false?
True
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baam
Lose 10 points!
Oops!
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gift
Win 25 points!
Okay!
×
gift
Win 10 points!
Okay!
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banana
Go to last place!
Oops!
15
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Give the name of any 1 element of costs for a business
Material costs, Labor Costs or Expenses
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15
×
Define the term Work in Progress
Work that has not been completed in the previous period and therefore is the be completed in the future
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15
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The production cost of goods completed is transferred to the income statement when doing manufacturing accounts is this statement true or false?
True
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15
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What are the sections that make up the manufacturing account?
All direct costs (Prime costs) + Manufacturing Overheads (Indirect Costs) + Work In Progress
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15
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If Materials cost $1000, Machine worker wages cost $2000 and Direct expenses cost $1000 what is prime cost?
$4000 (1000+1000+2000
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15
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Depreciation on plant equipment, fuel and power, general factory expenses are all considered indirect manufacturing costs True or False?
True
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15
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What is prime cost?
All the direct costs used in a manufacturing process
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15
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What is 1 objective of costing?
helps in decision making, controlling expenditure or planning and budgeting for the future
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15
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What is a cost center? And give one example
Any part of a business where costs are absorbed. For example a K9 unit in a police station
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trap
No points!
Oops!
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fairy
Take points!
5
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15
20
25
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gift
Win 10 points!
Okay!
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baam
Lose 5 points!
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15
×
What is a unit cost?
All the cost included in making a single product
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trap
No points!
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seesaw
Swap points!
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rocket
Go to first place!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
Administration expenses are found in the manufacturing account True or False?
False
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×
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