Cost Accounting

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This Cost Accounting test covers most of the major areas of costing including Process Costing and Standard Costing. This assessment covers the cost accounting subject matter of which candidates with as little as 6 months experience should be aware. More advanced level topics are included to determine those candidates with more experience as well as those who are pursuing a professional qualification in Managerial Accounting. Specific topics covered include, but are not limited to; product costing, general costs, manufacturing costs and break even points.

Tests for Advanced Accounting, Corporate Tax Accounting, and Partnership Tax Accounting are also available.

Number of questions 43
Test format Multiple-Choice
Time to complete Varies by skill
Topics covered Cost Calculations
Cost Definitions
General Costs
Product and Manufacturing Costs
Tasks tested Accumulation of Costs
Activities as Fundamental Cost Objects
Advantages of Standard Costing
Break Even Point in Sales
Break Even Point in Units
Break Even Sales Formula
Components of Product Cost
Computation of Beginning Inventory
Computation of Cost Goods Sold
Computation of Total Manufacturing Overhead Cost
Computing Direct Materials Used
Computing the Cost of Goods
Conversion Costs
Cost Drivers
Cost of Goods Sold
Cost Type
Costs Versus Benefits
Direct Material and Conversion Cost
Equivalent Units
Examination of Specific Variable Costs
Expansion Costs
FIFO
FIFO Versus Weighted Average Method of Costing
Fixed Versus Variable Costs
Indirect Cost
Indirect Labor Costs
Inventoriable Product
Inventoriable Product Costs
Job Cost
Job Costing and Information Technology
Margin of Safety
Methods of Costing Production
Particular Costing Method
Predetermined Manufacturing Rates
Product Costing
Recording Manufacturing Costs
Recording the Schedule of Goods Manufactured
Selling Prices
Throughput Time
Treatment of Materials Inventory
Treatment of Wages
Under-Allocated Overhead
Variable and Fixed Manufacturing Costs
Supported languages ๐Ÿ‡บ๐Ÿ‡ธ English (en_US)