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

which of indirect labor cost examples

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

when overhead is underapplied a must be made to the manufacturing overhead account to close it out
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

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

what is underapplied or overapplied overhead
-the difference

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