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Multiple Costing: Definition & Calculation

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Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

This term describes the different accounting methods used to determine costs:

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1. This type of costing method is used when the product contains components that are costed using two or more costing methods:

2. When a graphic designer creates business cards for a company, what costing method is used if the costs include material, labor, and overhead costs?

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About This Quiz & Worksheet

This quiz/worksheet examines what you know about multiple costing and techniques used to determine costs. You'll also review your understanding of the way in which costing methods are categorized.

Quiz & Worksheet Goals

This quiz/worksheet addresses what you know about:

  • The term used to describe accounting methods used to determine costs
  • What type of costing is used when the product contains components that are costed using two or more costing methods
  • The method of costing used when a graphic designer creates business cards for a company
  • The costing method that makes sense when variations of a product are manufactured in such a way that the differences can't be identified or costed separately

Skills Practiced

  • Knowledge application - use what you know to answer a question about the term for describing different accounting methods to determine costs
  • Information recall - see what you remember about the costing method a graphic designer might use to create business cards for a company
  • Interpreting information - verify that you read and were able to correctly interpret what it is called if a government asks a company to design a computer application for a specified amount by a specific date

Additional Learning

There is a full overview of this topic in the provided lesson, Multiple Costing: Definition & Calculation. This lesson covers more information about:

  • Why costing is important
  • Another name for multiple costing
  • The different types of costing methods
  • When batch costing is used
  • An example of multiple costing
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