Common allocation bases area. direct labor dollars, direct labor hours, and machine dollarsb. direct labor dollars, direct labor hours, and machine hoursc. machine dollars, direct labor dollars, and direct labor hoursd. direct labor dollars, direct labor hours, and direct material dollars

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Description: Common allocation bases area. direct labor dollars, direct labor hours, and machine dollarsb. direct labor dollars, direct labor hours, and machine hoursc. machine dollars, direct labor dollars, and direct labor hoursd. direct labor dollars, direct

The distribution process of different cost to different overhead is called the cost allocation.it is…

Business

Accounting

Common allocation bases are a. direct labor dollars, direct labor hours, and machine dollars Ob. direct labor dollars, direct labor hours, and machine hours Oc. machine dollars, direct labor dollars, and direct labor hours Od. direct labor dollars, direct labor hours, and direct material dollars

Common allocation bases are a. direct labor dollars, direct labor hours, and machine dollars Ob. direct labor dollars, direct labor hours, and machine hours Oc. machine dollars, direct labor dollars, and direct labor hours Od. direct labor dollars, direct labor hours, and direct material dollars

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 13MC: Which of the following are prime costs? A. indirect materials, indirect labor, and direct labor B....

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Similar questions

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
Which of the following is the step in which materials, labor, and overhead are detailed? A. determining the units to which costs are assigned B. determining the equivalent units of production C. determining the cost per equivalent units D. allocating the costs to the units transferred out and the units partially completed
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
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.
Product (or manufacturing) costs consist of a. direct materials, direct labor, and selling costs. b. direct materials, direct labor, manufacturing overhead, and operating expense. c. administrative costs and conversion costs. d. prime costs and manufacturing overhead. e. selling and administrative costs.
Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
The activity base for service industries is most likely to be _________________. A. machine hours B. administrative salaries C. direct labor cost D. direct labor hours
Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
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
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
Accumulating costs means that a. costs must be summed and entered on the income statement. b. each cost must be linked to some cost object. c. costs must be measured and tracked. d. costs must be allocated to units of production. e. costs have expired and must be transferred from the balance sheet to the income statement.
Carltons Kitchens three cost pools and overhead estimates are as follows: Compare the overhead allocation using: A. The traditional allocation method B. The activity-based costing method (Hint: the traditional method uses machine hours as the allocation base.)