Which of the following is an important feature when considering the use of a single plantwide factory overhead rate? a.It is easy to use. b.It is often inaccurate. c.It is expensive to use. d.It is complex to use

Q: Which of the following are features of a lean manufacturing system?A. Centralized maintenance…

A: Lean manufacturing system is a technology in which production process can be streamlined in order to…

Q: Which of the following is correct with respect to closing out overapplied manufacturing overhead…

A: The correct answer is  Option a.) Cost of goods sold will be lower.....

Q: Assigning manufacturing overhead to a specific job is complicated by all of the below except: A)…

A: Manufacturing overhead is a indirect cost incurred during the production process. This overhead is…

Q: The opportunity cost of making a component part in a factory with excess capacity for which there is…

A: Definition of opportunity cost: In simple terms , the cost for the opportunity lost called…

Q: Which of the following statements is true regarding by products?   a. Process costing is the only…

A: Solution: "Job order costing systems may have instances where by-products result from the production…

Q: umerous predetermined overhead rates while traditional uses only one.   The way they assign direct…

A: Correct answer is    Activity based costing may not assign all product costs to units if they are…

Q: If the activities causing overhead costs are different across different departments and products,…

A: Answer: True

Q: I. When Indirect Materials are requisitioned, the work in process account is debited II. One reason…

A: Last option is correct that is both statements are true.

Q: Why is it better to use separate overhead rates? * A. Some departments are labor-intensive, some…

A: Overhead rates are the rates used to measure the different costs relating to production of the…

Q: (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from…

A: Manufacturing overhead: It is the indirect cost incurred as a part of manufacturing the products.…

Q: Which statement is FALSE? Activity-Based Costing includes non-manufacturing costs in product costs,…

A: Job order costing is applicable especially for a company producing identifiable separate distinct…

Q: When comparing absorption costing to variable costing, all of the below are disadvantages of…

A: Solution: When comparing absorption costing to variable costing, all of the below are disadvantages…

Q: Which of the following is NOT a problem associated with standard cost accounting? a. Standard…

A:

Q: Under traditional costing systems, which calculate a single predetermined overhead rate using…

A: Under traditional costing systems, which calculate a single predetermined overhead rate using…

Q: Which of the following are true regarding activity-basedcosting? a. A primary goal of using ABC is a…

A: Activity-based costing: It is a method that helps in finding the activities performed by a company…

Q: why is direct labor a poor base for allocating overhead in many companies?

A: Process accounts:   Cost sheet is prepared to arrive at the cost price of the product after taking…

Q: Which of the following statements is not correct concerning multiple ?overhead rate systems A…

A: The multiple overhead rate system is the one where different departments have their own rates of…

Q: der traditional costing systems, which calculate a single predetermined overhead rate using volume-…

A: Overhead means the cost indirectly incured for manufacturing the product.

Q: “There’s no reason for me to get excited about the choice between the weighted-average and FIFO…

A: Weighted Average Method: Weighted average method is the method in which per unit cost is calculated…

Q: What is a plantwide overhead rate? Why are multiple overhead rates, rather than a plantwide overhead…

A: Plantwide overhead rate is a single overhead rate which is used by the company to allocate it's…

Q: When applied by service companies, the use of the single and multiple department overhead rate…

A: The correct answer is “False.”

Q: Why do overhead costs often shift from high-volume products to low-volume products when acompany…

A: Activity Based Costing: It's focus is on activities as the fundamental cost objects. It uses…

Q: Which of the following statements is not correct concerning multiple overhead rate systems? a. In…

A: In Multiple Overhead Rate, the predetermined absorption rate is different for different departments…

Q: The cost of minor materials, such as nuts, glue, tape, low value chemicals, etc. used in the…

A: Materials, such as nuts, glue, tape, low-value chemicals, etc. are indirect materials. This is…

Q: Celestial Products, Ic., has decided to introduce a new product, which can be manufactured by either…

A: Fixed overhead    Computer assisted Labor intensive Fixed overhead  $ 3,960,000 $ 2,280,000…

Q: Chocolate Bars, Inc. (CBI), manufactures creamy deluxe chocolate candy bars. The firm has developed…

A: format:   Product costs: Labor-hours per case Total cases produced Material cost per case…

Q: “There’s no reason for me to get excited about the choice between the weighted-average and FIFO…

A: Weighted Average Method:Weighted average method is the method in which per unit cost is calculated…

Q: Which of the following statements is not correct concerning multiple overhead rate systems? a. In…

A: Solution- A multiple overhead rate system is more complex than a system based on a single plant wide…

Q: Accounting Direct labor or machine hours may not be the appropriate cost driver for overhead in all…

A: Activity based costing is the method used by the entities because it helps in reducing the…

Q: Hoskins Co. uses a plant-wide factory overhead rate based on direct labor hours. Overhead costs…

A: Overhead Cost: Overhead cost is the expense incurred in the operations of a business. This expense…

Q: appropriate allocation base for allocating overhead

A: Allocation base of overheads are most suitable basis through which overhead are allocated to…

Q: Which among the following is not true about traditional costing system? a. This method allocates…

A: Traditional costing is allocating the factory overhead to products based on the volume of the…

Q: Which of the following statements is not correct concerning multiple overhead rate systems? a. None…

A: Overheads are the various indirect material, labour and other costs incurred during a manufacturing…

Q: opportunity cost

A: Correct Answer :- A Zero.

Q: Which of the following statements is false? (You may select more than one answer.)a. In recent…

A: Manufacturing Overhead cost mean costs apart from direct costs i.e. those indirect costs which are…

Q: Which of the following is an example of a variable cost? a.Insurance on the production equipment…

A: Variable cost are those cost which changes according to the level of Production. In other words in…

Q: Which of the following statements is false?   Cost allocations such as activity-based costing allow…

A: Activity-Based Costing: Activity-Based Costing method is generally used to allocate the overhead…

Q: Which is TRUE about services? a.Services cannot have work-in-process inventories. b.Some services…

A: Please find the answer to the above question below:

Q: When activity-based costing is used, why do manufacturing overhead costs often shift from…

A:

Q: True or False "Setup costs should not be allocated directly to products via machine hours."  The…

A: The cost incurred by the organization during the operation for setting up the machines and getting…

Q: Using ABC product cost information when considering reducing cost, which of the following would not…

A: Activity cost reduction can be attained in two ways: 1) Improve operation so that the activity -…

Q: All of the following are reasons to use backflush costing, except Managers tend to use their limited…

A: When the costing is done after completion of production that is known as backflush costing.

Q: Which of the following is NOT true ?         a. The salary of the factory manager is considered…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.