NIV JAIN 19. Which of the following situations would cause overheads to be over-absorbed? O A. When budgeted overheads exceed absorbed overheads O B. When actual overheads exceed budgeted overheads O C. When absorbed overheads exceed budgeted overheads O D. When absorbed overheads exceed actual overheads 2022 JGIAnveshana. ■ 直 0 d! dy

NIV JAIN 19. Which of the following situations would cause overheads to be over-absorbed? O A. When budgeted overheads exceed absorbed overheads O B. When actual overheads exceed budgeted overheads O C. When absorbed overheads exceed budgeted overheads O D. When absorbed overheads exceed actual overheads 2022 JGIAnveshana. ■ 直 0 d! dy

Name: NIVJAIN19. Which of the following situations would cause overheads to
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Description: NIVJAIN19. Which of the following situations would cause overheads to be over-absorbed?O A. When budgeted overheads exceed absorbed overheadsO B. When actual overheads exceed budgeted overheadsO C. When absorbed overheads exceed budgeted overheadsO

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 4SEQ: If the factory overhead account has a negative balance, factory overhead is said to be:...

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32.If actual overhead is greater than applied overhead, which of the following will be true? Upon closing, a. Overhead is underapplied; COGS is credited b. Overhead is underapplied; COGS is debited c. Overhead is overapplied; COGS is debited d. Overhead is overapplied; COGS is credited
4.1 Determined the correct formula to calculate the predetermined overhead absorption rate (OAR). Budgeted total overhead divided by actual total number of units of absorption base Budgeted total overhead divided by budgeted total number of units of absorption base Actual total overhead divided by actual total number of units of absorption base Actual total overhead divided by budgeted total number of units of absorption base
Also, for Required part 2 the answer is "Overapplied Overhead at $4600"
Underallocated overhead occurs when: A) allocated overhead costs are less than actual overhead costs. B) actual overhead costs are less than allocated overhead costs. C) estimated overhead costs are greater than budgeted overhead costs. D) estimated overhead costs are greater than actual overhead costs.
MACRS stands for a. Modified Annual Cost Recovery System b. Modified Audited Cost Recovery System c. Modified Accounting Cost Recovery System d. Modified Accelerated Cost Recovery System
1. Which is not the factor causing unfavourable direct material usage? Select one: a. Change in rate of utility costs b. Faulty machine used in the production process c. Ineffective supervision d. Inexperienced direct labour 2.A flexible budget is a budget that: Select one: a. contains only variable production costs. b. is updated with actual costs as they occur during the period. c. is prepared using a computer spreadsheet application. d. is updated to reflect the actual level of activity during the period.
7-is the cost which used in product evaluation, decision making or performance evaluation to represent the cost of using resources which has no actual cost. a. None of the given options b. General fixed overheads c. Committed cost d. Notional cost
4. Overheads applied are calculated by: Select one: A. Cost driver divided by the OAR B. OAR times the estimated cost driver activity C. OAR times the actual cost driver activity D. Budgeted production overheads divided by the budgeted cost driver activity 5. Under-allocated manufacturing overhead costs are always the result of which of the following situations? Select one: A. Estimated overhead costs are greater than actual overhead costs. B. Actual overhead costs are less than applied overhead costs. C. Actual overhead costs are greater than estimated overhead costs. D. Applied overhead costs are less than actual overhead costs. 6. The centrepiece of a job-costing system is the: Select one: a. materials requisition form b. job-cost sheet c. labour time ticket d. budgeted overhead rate 7.Black Company uses predetermined overhead rates to apply manufacturing overheads to jobs. The predetermined overhead rates are based on machine hours in Department A and direct labour cost in…
If the factory overhead account has a negative balance, factory overhead is said to be: a.Underapplied B.Over-applied C.Undcrabsorbed D. In error
119.the Fixed overhead efficiency variance is nearest to??A. P710 U B. P730 UC. P740 UD. P790 U
What does it mean to state that budgeted fi xed expenses are not fl exed?
6. A difference between standard costs used for cost control and budgeted costs a)Can exist because standard costs represent what costs should have been while budgeted cost represent expected actual costs. b)Can exist because established budgeted costs involve employee participation and standard cost do not c)Can exist because standard cost must be determined after the budget is prepared. d)Can exist because budgeted costs should be verified first by actual activities while standard cost are based on project costs.