What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)?Group of answer choicesY = mX +bY = a+ bX(Estimated Total MOH/(Estimated Total Cost Driver)(Actual Total MOH)/(Actual Total Cost Driver)(Estimated Total MOH/(Actual Total Cost Driver)

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Description: What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)?Group of answer choicesY = mX +bY = a+ bX(Estimated Total MOH/(Estimated Total Cost Driver)(Actual Total MOH)/(Actual Total Cost Driver)(Estimated Total M

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What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y= mX +b Y=a+ bX (Estimated Total MOHV(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOH/[Actual Total Cost Driver)

What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y= mX +b Y=a+ bX (Estimated Total MOHV(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOH/[Actual Total Cost Driver)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 6MC: Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver...

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Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2. Determine the cost to be charged to the product for the year. 3. Determine the cost to be charged to factory overhead for the year. 4. Determine the plotted data points using Chart Wizard. 5. Determine R2. 6. How do these solutions compare to the solutions in P4-2 and P4-3? 7. What does R2 tell you about this cost model?
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In the variable costing income statement, how are the fixed manufacturing costs reported, and how are the fixed selling and administrative expenses reported?
Which is not a step In activity-based costing? A. identify the activities performed by the organization B. identify the cost driver(s) associated with each activity C. compute a cost rate per production D. assign costs to products by multiplying the cost driver rate by the volume of the cost driver units consumed by the product
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Scattergraph method Using the data in P4-2 and a piece of graph paper: 1. Plot the data points on the graph and draw a line by visual inspection, indicating the trend shown by the data points. 2. Determine the variable cost per unit and the total fixed cost from the information on the graph. 3. Determine the variable cost to be charged to the product for the year. 4. Determine the fixed cost to be charged to factory overhead for the year. 5. Do these answers agree with the answers to P4-2? Why or why not?
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