Applied overhead consists of which of the following? a. actual activity times predetermined overhead rate b. estimated activity times predetermined overhead rate c. actual activity times actual overhead rate d. estimated activity times actual overhead rate

Applied overhead consists of which of the following? a. actual activity times predetermined overhead rate b. estimated activity times predetermined overhead rate c. actual activity times actual overhead rate d. estimated activity times actual overhead rate

Name: 37.Applied overhead consists of which of the following? a. actual act
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Description: 37.Applied overhead consists of which of the following? a. actual activity times predetermined overhead rateb. estimated activity times predetermined overhead ratec. actual activity times actual overhead rated. estimated activity times actual overhe

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter4: Job-order Costing And Overhead Application

Section: Chapter Questions

Problem 4MCQ: The predetermined overhead rate equals a. actual overhead divided by actual activity level for a...

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The predetermined overhead rate equals a. actual overhead divided by actual activity level for a period. b. estimated overhead divided by estimated activity level for a period. c. actual overhead minus estimated overhead. d. actual overhead multiplied by actual activity level for a period. e. one-twelfth of estimated overhead.
Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver for production/estimated overhead for the activity B. estimated overhead for the product/estimated use of the cost driver for the activity C. estimated use of the cost driver for production/estimated overhead for the activity D. estimated overhead for the activity/estimated use of the cost driver for the activity
How is the predetermined overhead rate applied?
Which is not a task typically associated with ABC systems? A. calculating the overhead application rate for each cost pool B. applying a single cost rate C. identifying a cost driver D. more correctly allocating overhead costs
Overhead costs are assigned to each product based on __________________. A. the proportion of that products use of the cost driver B. a predetermined overhead rate for a single cost driver C. price of the product D. machine hours per product
The standard direct labor hours allowed is computed as a. Unit Labor Standard Actual Output. b. Unit Labor Standard Practical Output. c. Unit Labor Standard Standard Output. d. Unit Labor Standard Normal Output. e. Unit Labor Standard Theoretical Output.
Which is not a step in analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overhead
Which of the following journal entries is used to record fixed overhead costs allocated? O A. Fixed Overhead Allocated Work-in-Process Control C) B. 0 D. Fixed Overhead Allocated Fixed Overhead Control Work-in-Process Control Fixed Overhead Allocated 0 D. Fixed Overhead Control Work-in-Process Control
The appropriate calculation of the predetermined overhead rate is _________. A. Actual overhead cost divided by a predetermined allocation base B. Estimated overhead cost divided by actual allocation base C. Estimated overhead cost divided by an estimated allocation base D. Actual overhead cost divided by an actual allocation base
A predetermined overhead rate is calculated by dividing actual overhead cost by the actual amount of a cost driver used in the process. Select one: O True 40 False
Overhead costs are underapplied if the amount applied to Work in Process is: of the given answer is correct b. greater than estimated overhead. equal to estimated overhead. d. greater than actual overhead incurred. e equal to actual overhead incurred.
1.The overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a.dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base b.dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver c.dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver d.dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costs