Homework Answers
The correct answer is
Cannot be traced to units of product in the same way that direct labor can
Overhead costs are indirect costs and cannot be traced directly into products. Hence, they are absorbed into products.
These costs can be variable as well as fixed
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Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to...
ers 1.2.7 19 - AC3020-002 Connect Saved TB MC Qu. 7-39 Departmental overhead rates may not......
ers 1.2.7 19 - AC3020-002 Connect Saved TB MC Qu. 7-39 Departmental overhead rates may not... Help Save Departmental overhead rates may not correctly assign overhead costs due to: Multiple Choice the high correlation between direct labor-hours and the incurrence of overhead costs. difficulties associated with identifying cost pools for the first stage of the allocation process. overreliance on volume as a basis for allocating overhead costs where products differ regarding the number of units produced, lot size, or complexity...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following cost information for the year. Direct materials Indirect materials Indirect labor Factory depreciation Direct labor $15, 400 3,400 7,900 12,200 36,400 Using the above information, total factory overhead costs equal Multiple Choice 0 $75,300 O $23.500 O $12.200 mg the above information, total factory overhead costs equal: Multiple Choice Ο Ο $75,300. Ο Ο $23,500. Ο Ο $12,200. Ο S15,600. Η $51,800.
TB MC Qu. 04-80 A company has sales of... A company has sales of $405,600 and...
TB MC Qu. 04-80 A company has sales of... A company has sales of $405,600 and its gross profit is $171,100. Its cost of goods sold equals: Multiple Choice $(232,700). $405,600 $171,100. $234,500 $576,700 < Prey 9 of 12 Next >
Ch 14 Quiz Saved Help Save & Exit TB MC Qu. 14-163 Use the following data...
Ch 14 Quiz Saved Help Save & Exit TB MC Qu. 14-163 Use the following data to... Use the following data to compute total factory overhead costs for the month: Sales commissions Direct labor Indirect materials Factory manager salaries Factory supplies Indirect labor Depreciation-office equipment Direct materials Corporate office salaries Depreciation-factory equipment $11,900 40,700 16,300 8,300 10,100 7,400 6,100 41,600 43,600 8,600 Multiple Choice O $150.000 O $133,000 Saved Help Save & Exit orporate orrice salaries epreciation-factory equipment 43, OUV...
TB MC Qu. 14-156 Current information for the... Current information for the Healey Company follows: Beginning...
TB MC Qu. 14-156 Current information for the... Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $16,500 61,300 17,900 23,700 29,300 44,100 31,300 All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is: Multiple Choice O $79.200 O $77.800 < Prev 5 of 10 !!...
TB MC Qu. 1-181 Kesterson Corporation has provided ... Kesterson Corporation has provided the following information:...
TB MC Qu. 1-181 Kesterson Corporation has provided ... Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Pixed selling and administrative expense Cost Cost per per Period Unit $6.45 $3.60 $1.40 $21,000 $1.60 $0.30 $ 3,000 The incremental manufacturing cost that the company will incur if it increases production from 7,500 to 7,501 units is closest to: Multiple Choice 0 $14.55 0 $11.45
Seved Help Save & Ex TB MC Qu. 14-141 Comet Company accumulated... Comet Company accumulated the...
Seved Help Save & Ex TB MC Qu. 14-141 Comet Company accumulated... Comet Company accumulated the following account information for the year: Beginning raw materials inventory Indirect materials cost $6,100 2,100 Indirect labor cost 5,100 Maintenance of factory equipment 2,900 7,100 Direct labor cost sing the above information, total factory overhead costs equal: Multiple Choice $10,100. $16,100. $8,000. Multiple Choice $10,100. $16,100. $8,000. $13,300. $17,200.
Which of the following statements related to manufacturing overhead allocated is false? Multiple Choice It is...
Which of the following statements related to manufacturing overhead allocated is false? Multiple Choice It is comprised of all manufacturing costs that cannot be directly traced to a product or service The costs can be grouped in either a single indirect-cost pool or multiple indirect-cost pools. These costs are allocated because the products could be made without them. The costs are debited to a work-in-process account.
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
TB MC Qu. 8-95 (Algo) Bentley Enterprises uses pluw Bentley Enterprises uses process costing to control costs in th...
TB MC Qu. 8-95 (Algo) Bentley Enterprises uses pluw Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November (CMA Exam adapted) Work in process, November 1st Started in production during November Work in process, November 30th Units 17,990 119,000 25,900 The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending Inventory was 90% complete as...
ers 1.2.7 19 - AC3020-002 Connect Saved TB MC Qu. 7-39 Departmental overhead rates may not... Help Save Departmental overhead rates may not correctly assign overhead costs due to: Multiple Choice the high correlation between direct labor-hours and the incurrence of overhead costs. difficulties associated with identifying cost pools for the first stage of the allocation process. overreliance on volume as a basis for allocating overhead costs where products differ regarding the number of units produced, lot size, or complexity...
Help Save & Exit TB MC Qu. 14-142 Asteroid Industries accumulated... Asteroid Industries accumulated the following cost information for the year. Direct materials Indirect materials Indirect labor Factory depreciation Direct labor $15, 400 3,400 7,900 12,200 36,400 Using the above information, total factory overhead costs equal Multiple Choice 0 $75,300 O $23.500 O $12.200 mg the above information, total factory overhead costs equal: Multiple Choice Ο Ο $75,300. Ο Ο $23,500. Ο Ο $12,200. Ο S15,600. Η $51,800.
TB MC Qu. 04-80 A company has sales of... A company has sales of $405,600 and its gross profit is $171,100. Its cost of goods sold equals: Multiple Choice $(232,700). $405,600 $171,100. $234,500 $576,700 < Prey 9 of 12 Next >
Ch 14 Quiz Saved Help Save & Exit TB MC Qu. 14-163 Use the following data to... Use the following data to compute total factory overhead costs for the month: Sales commissions Direct labor Indirect materials Factory manager salaries Factory supplies Indirect labor Depreciation-office equipment Direct materials Corporate office salaries Depreciation-factory equipment $11,900 40,700 16,300 8,300 10,100 7,400 6,100 41,600 43,600 8,600 Multiple Choice O $150.000 O $133,000 Saved Help Save & Exit orporate orrice salaries epreciation-factory equipment 43, OUV...
TB MC Qu. 14-156 Current information for the... Current information for the Healey Company follows: Beginning raw materials inventory Raw material purchases Ending raw materials inventory Beginning work in process inventory Ending work in process inventory Direct labor Total factory overhead $16,500 61,300 17,900 23,700 29,300 44,100 31,300 All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is: Multiple Choice O $79.200 O $77.800 < Prev 5 of 10 !!...
TB MC Qu. 1-181 Kesterson Corporation has provided ... Kesterson Corporation has provided the following information: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Pixed selling and administrative expense Cost Cost per per Period Unit $6.45 $3.60 $1.40 $21,000 $1.60 $0.30 $ 3,000 The incremental manufacturing cost that the company will incur if it increases production from 7,500 to 7,501 units is closest to: Multiple Choice 0 $14.55 0 $11.45
Seved Help Save & Ex TB MC Qu. 14-141 Comet Company accumulated... Comet Company accumulated the following account information for the year: Beginning raw materials inventory Indirect materials cost $6,100 2,100 Indirect labor cost 5,100 Maintenance of factory equipment 2,900 7,100 Direct labor cost sing the above information, total factory overhead costs equal: Multiple Choice $10,100. $16,100. $8,000. Multiple Choice $10,100. $16,100. $8,000. $13,300. $17,200.
Which of the following statements related to manufacturing overhead allocated is false? Multiple Choice It is comprised of all manufacturing costs that cannot be directly traced to a product or service The costs can be grouped in either a single indirect-cost pool or multiple indirect-cost pools. These costs are allocated because the products could be made without them. The costs are debited to a work-in-process account.
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities can elect to be treated as a C corporation? Multiple Choice Limited partnership. Limited liability company. General partnership. All of these choices are correct.
TB MC Qu. 8-95 (Algo) Bentley Enterprises uses pluw Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November (CMA Exam adapted) Work in process, November 1st Started in production during November Work in process, November 30th Units 17,990 119,000 25,900 The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending Inventory was 90% complete as...
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