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Subjects / LC Accounting / Management Accounting

Cost classification and the role of management accounting

Classify costs as direct or indirect, fixed, variable or semi-variable, product or period, and contrast management with financial accounting.

In review 5th Year6th Year HigherOrdinary
15practice questions

Match the pairs: 1 · Multiple choice: 11 · Numeric answer: 3

Each question has up to three hints, a worked explanation, and is tracked in your progress and review plan.

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Numeric answer
Direct materials cost €3967, direct labour €7024 and direct expenses €355. Factory overheads are €4964. Calculate prime cost.
Whole numbers, decimals (2.5) or fractions (3/4).
Hint 1

Prime cost = direct costs only.

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