Quiz  /  Costing Class 12 MCQ Questions With Answers

  • 1. 
    You buy 5 lbs for flour 3.99, the recipe calls for 3 pounds of flour. What is the recipe cost for 3 pounds of flour?

  • $2.39
  • $4.09
  • $2.00
  • $1.89

  • 2. 
    You purchase 18 oz of cinnamon for $8.06. What is your ingredient cost for 2 Tbsp of cinnamon?

  • $0.45
  • $0.86
  • $0.32
  • $0.22

  • 3. 
    You buy 1 lb of bakers chocolate for 3.98, how much is it for 3lbs of bakers chocolate?

  • $7.94
  • $3.98
  • $11.94
  • $9.98

  • 4. 
    You purchase 20 lbs of sugar for $50.00, how much is it for 8 lbs of sugar?

  • $13.50
  • $10.00
  • $20.00
  • $75.00

  • 5. 
    You purchase a dozen eggs for $3.89, what is the recipe cost for 28 eggs?

  • $7.24
  • $6.89
  • $5.99
  • $8.96

  • 6. 
    You purchase 32 oz of almonds for $13.48. What is you recipe cost for 8 oz of almonds?

  • $2.38
  • $6.74
  • $0.64
  • $3.37

  • 7. 
    You purchase 1 pound of butter for $2.99, what is the recipe cost for 4 lbs of butter?

  • $9.86
  • $11.96
  • $13.87
  • $7.67

  • 8. 
    You purchase a can of tomato paste for $.98. This can has 5 servings of 2 Tbsp or a total of 10 Tbsp. How much is it for 1 Tbsp?

  • $0.10
  • $1.00
  • $0.50
  • $0. 98

  • 9. 
    How much is a litre of petrol?

  • £1.24
  • £2.40
  • £3.80

  • 10. 
    How much does it cost for a 24 month phone contract for the latest iphone/Samsung? (Incl. airtime bill and device plan)

  • £15 - £25
  • £25 - £35
  • £35 - £45+

  • 11. 
    What is disposable income?

  • Money that you have left to spend or save after taxes and other required deductions are taken
  • Income that you are free to spend on whatever you would like
  • Money left in your bank account

  • 12. 
    For some sections of a business, the cost centre approach of analysing costs is taken to a further level by also analysing sales income to centres. As sales income less costs equals profit, such centres are called ------ --------

  • Investment centre
  • Profit centre

  • 13. 
    How much is a pint of milk?

  • 26p
  • 50p
  • 73p

  • 14. 
    To cook one meal each day a week (for 4 people) by an electric cooker, how much would it cost? (not including the food)

  • £14
  • £2.46
  • £7.50

  • 15. 
    -------- ------are sections of a business to which costs can be charged Therefore, a ---- ---- can be any function or section of the organisation. In a manufacturing business it can be an entire factory, a department of a factory, or a particular stage in the production process.

  • Cost centre
  • Profit Centre
  • investment Centre

  • 16. 
    How much is the average weekly rent in Basingstoke for a single room in a shared house? (food not included)

  • £60
  • £85
  • £100

  • 17. 
    How much is the cheapest loaf of white bread?

  • 29p
  • 55p
  • 62p

  • 18. 
    Budgeting and control are key features of this form of accounting

  • Financial Accounting
  • Management Accounting

  • 19. 
    Managers need useful information in order to make decisions, to plan and to control the company. Therefore, there are three main components to consider. Which of the following is not one of those options?

  • Planning
  • Organising
  • Control
  • Decision Making

  • 20. 
    Hesketh is a stationary business. Classify the following elements:Insurance of office computers

  • Material
  • Labour
  • Overhead

  • 21. 
    How much is a colour TV Licence?

  • £133.50
  • £143
  • £147

  • 22. 
    The piecework method to pay labour guarantees a set amount of wages

  • True
  • False

  • 23. 
    The information is historical

  • Financial Accounting
  • Management Accounting

  • 24. 
    How much is the Council Tax charge for a property in Band A Basingstoke?

  • £1048.27
  • £847.33
  • £966.54

  • 25. 
    Formal financial statements are produced annually

  • Financial Accounting
  • Management Accounting
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