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Total Cost Quiz

A cost centre is:

Responsibility accounting aims to:

Prime cost can be defined as:

Which of the following best describes a fixed cost?

A business has the following transactions in a month: 
2 JanBought 80 units at a total cost of £160
12 JanBought 50 units at a total cost of £150
19 JanSold 90 units earning total revenue of £540
22 JanBought 70 units at a total cost of £280
29 JanSold 80 units earning a total revenue of £480
Using the first-in, first-out (FIFO) method of stock valuation the cost of sales is:

Tagged as: total cost, total cost, cost
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