Cost Accounting Assessment


Cost Accounting Assessment


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.


Total Questions 43
Question Types Multiple Choice
Competencies Tested Miscellaneous
Product Costing
General Costs
Manufacturing Costs
Cost Definitions
Product and Manufacturing Costs
Cost Calculations
Tasks Tested Job Costing and Information Technology
Cost Type
Cost Drivers
Indirect Labor Costs
Particular Costing Method
Direct Material and Conversion Cost
Fixed Versus Variable Costs
Advantages of Standard Costing
FIFO Versus Weighted Average Method of Costing
Recording the Schedule of Goods Manufactured
Variable and Fixed Manufacturing Costs
Activities as Fundamental Cost Objects
Indirect Cost
Costs Versus Benefits
Examination of Specific Variable Costs
Inventoriable Product Costs
Break Even Sales Formula
Break Even Point in Units
Inventoriable Product
Treatment of Wages
Selling Prices
Equivalent Units
Job Cost
Accumulation of Costs
Expansion Costs
Margin of Safety
Methods of Costing Production
Cost of Goods Sold
Product Costing
Computation of Cost Goods Sold
Recording Manufacturing Costs
Computing Direct Materials Used
Treatment of Materials Inventory
Computing the Cost of Goods
Conversion Costs
Predetermined Manufacturing Rates
Computation of Total Manufacturing Overhead Cost
Break Even Point in Sales
Under-Allocated Overhead
Components of Product Cost
Throughput Time
Computation of Beginning Inventory