MCQ for CA Intermediate COSTING - Chapter 11 - JOINT PRODUCTS AND BY PRODUCTS

Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 1 - COST AND MANAGEMENT ACCOUNTING - Chapter 11: JOINT PRODUCTS AND BY PRODUCTS - For Practice relevant for May/November 23 Examinations

 

Q1. In sugar manufacturing industries molasses is also produced along with sugar. Molasses may be of smaller value as compared with the value of sugar and is known as: 

  1. Common product
  2. By- product
  3. Joint product
  4. None of them

Answer: 2

Q2. Method of apportioning joint costs on the basis of output of each joint product at the point of split off is:

  1. Sales value method
  2. Physical unit method
  3. Average cost method
  4. Marginal cost and contribution method

Answer: 2

Q3. In the Net realisable value method, for apportioning joint costs over the joint products, the basis of apportionment would be: 

  1. Selling price per unit of each of the joint products
  2. Selling price multiplied by units sold of each of the joint products
  3. Sales value of each joint product less further processing costs of individual products
  4. Both (b) and (c) 

Answer: 4

Q4. Under net realizable value method of apportioning joint costs to joint products, the selling & distribution cost is: 

  1. Added to joint cost
  2. Deducted from further processing cost
  3. Deducted from sales value
  4. Ignored

Answer: 3

Q5. Which of the following is an example of by-product

  1. Diesel and Petrol in an oil refinery
  2. Edible oils and oil cakes
  3. Curd and butter in a dairy
  4. Mustard seeds and mustard oil.

Answer: 2

Q6. Which of following method can be used when the joint products are of unequal quantity and used for captive consumption:

  1. Technical estimates, using market value of similar goods
  2. Net Realisable value method
  3. Physical Units method
  4. Market value at split-off method.

Answer: 1

 

CA Intermediate COSTING - MCQ for Chapter 12 -   

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