The actual cost of variable overhead is determined by multiplying the actual driver usage by the actual variable cost rate.
True
False
Yes actual cost of variable overhead is determined by actual driver usage * actual variable cost rate
So above statement is True
The actual cost of variable overhead is determined by multiplying the actual driver usage by the...
Assume that machine hours is the cost driver for overhead. The difference between the actual variable overhead incurred and the applied variable overhead is the: Select one: a. spending variance. b. volume variance. c. efficiency variance. d. sum of the spending and efficiency variances. e. production variance.
Variable overhead efficiency variance is the difference between the actual overhead rate and the standard overhead rate expected for the units produced. true or false
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
Job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job. True or False True False
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.
The predetermined overhead rate is determined as: Estimated overhead costs divided by estimated allocation base (eg direct labor hours) Actual overhead cost divided by estimated allocation base (eg direct labor hours) Estimated overhead Costs divided by actual allocation base (eg actual direct labor hours) actual overhead costs divided by actual allocation base (eg actual direct labor hours) Do not cost their services using job costing techniques True O False The beginning in Finished Goods Inventory is $50,000, the ending balance...
Estimated total manufacturing overhead costs Actual total manufacturing overhead costs Estimated machine hours Actual machine hours $750,000 $ 765,000 200,000 hours 198,000 hours Knowledge Check 03 Using the information provided by Amilmar Inc., calculate the predetermined overhead rate. Amilmar has determined machine hours to be the appropriate cost driver to allocate overhead costs. $3.79 $1.02 O $3.75 $3.86 Knowledge Check 04 Amilmar Inc. has provided this information regarding its overhead costs. It has determined machine hours to be the appropriate...
Estimated total manufacturing overhead co Actual total manufacturing overhead cost Estimated sachine hours Actual machine hours 000 hours Knowledge Check 03 Using the information provided by Amilmar Inc., calculate the predetermined overhead rate. Amilmar has determined machine hours to be the appropriate cost driver to allocate overhead costs. $3.79 $1.02 • $3.75 $3.86 Knowledge Check 04 Ammar Inc. has provided this information regarding its overhead costs. It has determined machine hours to be the appropriate cost diver to allocate overhead...
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.
In the relevant range, fixed overhead costs do not vary with cost driver activity. True False