Material costing methods – MCQs
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Material costing method mcqs
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Question 1 of 10
1. Question
When new material is purchased, it is recorded in:
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Your answer is incorrect. The correct answer is “Receipts columns” (option 1).

Question 2 of 10
2. Question
When material is issued, it is recorded in:
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Your answer is incorrect. The correct answer is “Issue column” (option 2).

Question 3 of 10
3. Question
FIFO means:
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Your answer is incorrect. The correct answer is “Firt in first out” (option 1).

Question 4 of 10
4. Question
Material returned to supplier is recorded in column:
Correct
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Incorrect
Your answer is incorrect. The correct answer is “Receipts” (option 1).

Question 5 of 10
5. Question
Red entry in store ledger card is made when material is returned from:
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Your answer is incorrect. The correct answer is “Store to factory” (option 2).

Question 6 of 10
6. Question
Material returned from factory to store is recorded in column:
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Your answer is incorrect. The correct answer is “issue” (option 2).

Question 7 of 10
7. Question
To calculate average price, the total cost is divided by:
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Your answer is incorrect. The correct answer is “Total received units” (option 1).

Question 8 of 10
8. Question
Which method is used for valuation of material issued:
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Your answer is incorrect. The correct answer is “All above” (option 4).

Question 9 of 10
9. Question
The opening inventory of material is recorded in the store ledger card in:
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Your answer is incorrect. The correct answer is “Balance column” (option 3).

Question 10 of 10
10. Question
Which one is comparatively difficult method to record the calculation of material:
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Your answer is incorrect. The correct answer is “Average” (option 3).
2 Comments on Material costing methods – MCQs
I want a mcqs from the chapter material costing
Thank for contacting us. Here is your link to Material Costing Methods MCQS.
https://www.playaccounting.com/quizzes/mcqs/mcmmcqs/
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Playaccounting