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.
Homework Answers
The allocation of overhead by multiplying a predetermined rate by actual activity
Explanation :
Predetermined rate = Overhead / standard activity
Allocation of overhead = Predetermined rate x actual activity
Option c. is correct answer.
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