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AAT Accounting Accounting — practice by topic

Browse 29 questions across 4 Accounting topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Accounting topics

Accounting (29)Cost Accounting (29)Cost Classification (29)Management Accounting (29)

Try a Accounting question

Components whose cost can be traced to each item produced are classified as direct:Read the answer and worked solution →Production costs that cannot economically be traced to material or labour are grouped as manufacturing:Read the answer and worked solution →Direct materials plus direct labour together are called:Read the answer and worked solution →Direct labour plus factory overhead together are called:Read the answer and worked solution →

Worked practice questions

Components whose cost can be traced to each item produced are classified as direct:

  1. Materials
  2. Meetings
  3. Mailings
  4. Margins
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Correct answer: A. Materials

1. They go into the product itself. 2. Cost is measured per item. 3. They are direct materials. _Source: OpenStax Principles of Managerial Accounting, Chapter 2, Building Blocks of Managerial Accounting._

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Production costs that cannot economically be traced to material or labour are grouped as manufacturing:

  1. Ordering
  2. Overhead
  3. Ownership
  4. Outsourcing
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Correct answer: B. Overhead

1. Tracing them is not worth the effort. 2. They still belong to production. 3. They are manufacturing overhead. _Source: OpenStax Principles of Managerial Accounting, Chapter 2, Building Blocks of Managerial Accounting._

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Direct materials plus direct labour together are called:

  1. Prime costs
  2. Step costs
  3. Period costs
  4. Sunk costs
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Correct answer: A. Prime costs

1. Only the two direct costs are combined. 2. Overhead is left out. 3. They are prime costs. _Source: OpenStax Principles of Managerial Accounting, Chapter 2, Building Blocks of Managerial Accounting._

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How to practise

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