Costs and Manufacturing Overhead

1834 Words Oct 2nd, 2013 8 Pages
what is the formula for predetermined overhead rate
-estimated manufacturing overhead cost divided by estimated

which of manufacturing overhead
-it can, it must be a manufacturing, indirect

labor costs that are easily traced to a job
-direct

which of indirect labor cost examples
-maintenance

into which of the companies classify manufacturing cost
-direct labor, manufacturing, direct, materials

a factor that causes overhead costs is called
-cost driver

what kinds of costs are assigned to units of product in absorption costing
-variable manufacturing, fixed manufacturing

a journal entry that debits raw materials and credits accounts payable is recording the
-purchase of materials

put the steps for
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d to dispose of underapplied or overapplied manufacturing overhead
-closing it out to cost of good, allocating it among work in process

a credit balance in the manufacturing overhead account means overhead was
-overapplied

when overhead is underapplied a must be made to the manufacturing overhead account to close it out
-credit
Match each event ..entry
-actual, a job, the period

when goods are shipped to customers the journal entry would credit
-finished goods

Place the following steps in requisitioning and issuing materials in order
-a production order, the pro, the materials, the storeroom

underapplied or overapplied overhead occurs because overhead is applied to fobs using a predetermined rate based pn estimates of costs and activity levels
-true

a bill of materials contains the
-quantity of, type of each

When goods are sold on account credits
-finished goods and sales revenue

inventory consists of completed units that have not yet been sold
-finished goods

Which of the
-when materials, raw materials used

compared to a plantwide overhead rate system a multiple predetermined overhead rate system is
-more complex but more accurate

if overapplied overhead is closed out to cost of goods sold will cost of goods sold be increased or decreased
-decreased

what is underapplied or overapplied overhead
-the difference

actual overhead costs may not be proportional to the actual amount of the allocation base used
-overhead
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