Analyzing a Production Cost Report


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

question 1 of 3

In a production cost report, which two steps concern themselves with inventory exclusively?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. Which two steps of the production cost report help us account for costs?

2. Which of these can NOT be gleaned from a production cost report?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About this Quiz & Worksheet

If you find the production cost report intimidating, you aren't alone. But, it doesn't have to be. This interactive quiz and printable worksheet will help you break this report into manageable parts and assess how well you understand its components.

Quiz & Worksheet Goals

In this assessment you'll be tested over:

  • Who uses production cost reports
  • How to analyze these reports
  • The information that can be derived from this report
  • The steps of the production cost report and the aspect of business they relate to

Skills Practiced

  • Knowledge application - use your knowledge of production cost reporting to analyze parts of these reports
  • Information recall - access the knowledge you've gained about analyzing cost production reports
  • Making connections - use your understanding of cost production reports to identify the steps involved in the process

Additional Learning

To learn more about cost production report analysis, check out the accompanying lesson titled Analyzing a Cost Production Report. The information you can gather from this lesson can be used to meet these objectives:

  • Prepare a production cost correctly
  • Explain the uses of this report
  • Determine the data sources for each section of this report
  • Compare this report to budgeted goals in order to make decisions