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Q. A contract is generally of ………………..duration.

Q. Since a by-product does not have any substantial value, there is no sense in charging it with a share of the common processing costs.

Q. In service cost sheet costs are classified into :

Q. If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are

Q. The job costing method can therefore be applied in costing batches. The only difference is that a number of items are being costed together as a single unit, instead of a single item or service.

Q. . Which of the following is not considered to be a benefit of activity-based costing?

Q. Identify the circumstances where under- or over-recovery of overhead will occur:

Q. An example of a production overhead would be:

Q. In some cases, a company might have to pay to dispose of losses in a process. The cost of disposal represents an additional cost to the process. To reflect this in the process account the normal loss is measured at zero but the expected costs of disposal are debited to the process account.

Q. The units basis has the following limitations.