Which of the following best describes normal costing? a. the allocation of overhead by multiplying a...
Which of the following best describes normal costing?
a. the allocation of overhead by multiplying a predetermined overhead rate by budgeted activity
b. the allocation of overhead by multiplying a predetermined overhead rate by standard activity.
c. the allocation of overhead by multiplying a predtermined overhead rate by actual activity.
d. the allocation of overhead by multiplying a predtermined overhead regression rate by standard activity.
Homework Answers
Normal costing is described as the allocation of overhead by multiplying a predetermined overhead rate by actual activity.
The answer is c.
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Which of the following best describes normal costing?
a. the allocation of overhead by multiplying a...
Which of the following best describes standard costing? a. the allocation of overhead by multiplying a...
Which of the following best describes standard costing? a. the allocation of overhead by multiplying a market-based rate by standard activity b. the allocation of overhead by multiplying a perdetermined rate by standard activity. c. the allocation of overhead by multiplying a predtermined rate by actual activity. d. the allocation of overhead by multiplying a market-based rate by actual activity.
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base...
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base factor by the estimated annual MOH multiplying the predetermined MOH rate by the actually allocation base factor dividing the annual estimated MOH by the annual estimated MOH allocation base multiplying the predetermined MOH rate by the actual allocation base
How do you calculate allocated manufacturing overhead to a certain job? By multiplying the total estimated...
How do you calculate allocated manufacturing overhead to a certain job? By multiplying the total estimated manufacturing overhead by the total estimated allocation base to be used = A By multiplying the predetermined manufacturing overhead rate by the estimated allocation base to be used by the job = B By multiplying the predetermined manufacturing overhead rate by the actual allocation base used by the job = C By multiplying the estimated manufacturing overhead rate by the actual allocation base used...
accounting multiple choice Which of the following best describes the advantages of using a predetermined overhead...
accounting multiple choice
Which of the following best describes the advantages of using a predetermined overhead rate? Select one or more: a. Both (a) and (C) above. b. Overhead costs are applied evenly throughout the year rather than fluctuating from month to month. c. Predetermined rates require managers to wait until long after the accounting period to get an estimate of product costs. d. Total unit costs of production are known sooner than using actual overhead rates, and overhead costs...
1) Which of the following would not be directly related to a volume-based allocation measure? A)...
1) Which of the following would not be directly related to a volume-based allocation measure? A) The number of customers served. B) The number of activities. C) The number of units produced. D) Direct materials cost. 2) Which of the following best defines a facility-level activity? A) An activity that is performed for a group of units all at once B) An activity that is performed for each individual unit C) An activity that is performed to support a specific...
A company uses normal costing. It allocates manufacturing overhead using a predetermined rate based on the number...
A company uses normal costing. It allocates manufacturing overhead using a predetermined rate based on the number of direct labor hours incurred. The following data is available for 2019: Budgeted manufacturing overhead costs = $2,000,000 Budgeted direct labor hours = 200,000 Actual manufacturing overhead costs = $2,100,000 Actual direct labor hours = 190,000 Based on this information, would manufacturing overhead be over- or under-allocated?
Explanation not necessary The variable overhead efficiency variance is caused by the difference between which of...
Explanation not necessary The variable overhead efficiency variance is caused by the difference between which of the following? A actual and budgeted units B. actual and standard overhead rates C. actual and standard allocation base D. actual units and actual overhead rates This standard is set at a level that could be achieved if everything ran perfectly. A unattainable standard B. attainable standard C. variance from standard D. ideal standard Which of the following statements is not correct? A The...
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $...
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $ 450,000 Actual machine hours worked 25,000 Budgeted machine hours 27,500 Applied overhead $ 487,500 If normal costing is used, budgeted overhead used to calculate the predetermined rate would be: a) S 443,250. b) $ 450,000 c) $ 487,500 d) $ 536,250. Answer: (5 points)
10. Which of the following represents the factory overhead applied to a product? A) Predetermined factory...
10. Which of the following represents the factory overhead applied to a product? A) Predetermined factory overhead rate times estimated activity base. B) Actual factory overhead rate times estimated activity base. C) Predetermined factory overhead rate times actual activity base. D) Actual factory overhead rate times actual activity base.
The Zef Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and...
The Zef Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine hours as the cost-allocation base. The following data are for 2017: (Click the icon to view the following data.) Read the requirements Requirement 1. Compute the budgeted manufacturing overhead rate for 2017 Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing Overhead rate 1. Compute the budgeted manufacturing overhead rate for 2017. 2. Compute...
CH 2 KB. The predetermined manufacturing overhead rate is calculated by multiplying the actual allocation base factor by the estimated annual MOH multiplying the predetermined MOH rate by the actually allocation base factor dividing the annual estimated MOH by the annual estimated MOH allocation base multiplying the predetermined MOH rate by the actual allocation base
accounting multiple choice
Which of the following best describes the advantages of using a predetermined overhead rate? Select one or more: a. Both (a) and (C) above. b. Overhead costs are applied evenly throughout the year rather than fluctuating from month to month. c. Predetermined rates require managers to wait until long after the accounting period to get an estimate of product costs. d. Total unit costs of production are known sooner than using actual overhead rates, and overhead costs...
Explanation not necessary The variable overhead efficiency variance is caused by the difference between which of the following? A actual and budgeted units B. actual and standard overhead rates C. actual and standard allocation base D. actual units and actual overhead rates This standard is set at a level that could be achieved if everything ran perfectly. A unattainable standard B. attainable standard C. variance from standard D. ideal standard Which of the following statements is not correct? A The...
17) The following information is provided by the Sutton Corporation for the year: Actual Overhead $ 450,000 Actual machine hours worked 25,000 Budgeted machine hours 27,500 Applied overhead $ 487,500 If normal costing is used, budgeted overhead used to calculate the predetermined rate would be: a) S 443,250. b) $ 450,000 c) $ 487,500 d) $ 536,250. Answer: (5 points)
The Zef Radiator Company uses a normal-costing system with a single manufacturing overhead cost pool and machine hours as the cost-allocation base. The following data are for 2017: (Click the icon to view the following data.) Read the requirements Requirement 1. Compute the budgeted manufacturing overhead rate for 2017 Begin by selecting the formula you will use. Then, enter the amounts and calculate the rate. Budgeted manufacturing Overhead rate 1. Compute the budgeted manufacturing overhead rate for 2017. 2. Compute...
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