Costing Systems – Knowsia

MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

Question

Which of the following is NOT a characteristic of ‘Last-In-First-Out’ (LIFO) materials pricing method?
A. Results in many batches being only partly charged to production where a subsequent batch is received
B. It is an actual cost system
C. It is acceptable by the tax authorities
D. Administratively clumsy
E. Makes cost comparison between jobs difficult

Answer

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Tags: Costing Systems, Inventory Management, LIFO, Materials Pricing
Level: Level 1

Topic: Costing Methods
Series: NOV 2023

MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

Question

The system designed to suit the ways goods are manufactured or processed or the way services are provided is referred to as:
A. Job costing
B. Specific order costing
C. Costing methods
D. Process costing
E. Batch costing

Answer

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Tags: Costing Systems, Management Information, Manufacturing, MCQ
Level: Level 1

Topic: Costing Methods
Series: NOV 2019

MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing Systems, Inventory Management, LIFO, Materials Pricing
Level: Level 1

Topic: Costing Methods
Series: NOV 2023

MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Costing Systems, Management Information, Manufacturing, MCQ
Level: Level 1

Topic: Costing Methods
Series: NOV 2019

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MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

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MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

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MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

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MI – Nov 2023 – L1 – SA – Q1 – Costing Methods

Identifying a characteristic that is NOT associated with the LIFO materials pricing method.

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MI – Nov 2019 – L1 – SA – Q7 – Costing Methods

This question asks for the system designed to suit the way goods are manufactured or services are provided.

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