Which one of the following is not correct regarding the predetermined ?overhead rate .None of the given answers .a The predetermined overhead rate uses estimated figures for the .b O manufacturing overhead cost and estimated figures for the cost .allocation basis amount The predetermined overhead rate uses actual figures for the .c O manufacturing overhead cost but estimated figures for the cost .allocation basis amount The predetermined overhead rate is used to assign manufacturing .d O .overhead costs to cost objects such as products The predetermined overhead rate is normally calculated at the .e .beginning of the period

Which one of the following is not correct regarding the predetermined ?overhead rate .None of the given answers .a The predetermined overhead rate uses estimated figures for the .b O manufacturing overhead cost and estimated figures for the cost .allocation basis amount The predetermined overhead rate uses actual figures for the .c O manufacturing overhead cost but estimated figures for the cost .allocation basis amount The predetermined overhead rate is used to assign manufacturing .d O .overhead costs to cost objects such as products The predetermined overhead rate is normally calculated at the .e .beginning of the period

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 6MC: Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver...

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Which one of the following is not correct regarding the predetermined ?overhead rate .None of the given answers The predetermined overhead rate is used to assign manufacturing .b .overhead costs to cost objects such as products The predetermined overhead rate uses actual figures for the.c manufacturing overhead cost but estimated figures for the cost .allocation basis amount The predetermined overhead rate uses estimated figures for the .d manufacturing overhead cost and estimated figures for the cost .allocation basis amount The predetermined overhead rate is normally calculated at the .e .beginning of the period
Which one of the following is not correct regarding the predetermined overhead rate? The predetermned overhead rate is used to assign manufacturing overhead costs to cost objects such as products. b. The predetermined overhead rate uses actual figures for the manufacturing overhead cost but estimated figures for the cost allocation basis amount. C. The predetermined overhead rate uses estimated figures for the manufacturing overhead cost and estimated figures for the cost allocation basis amount. d. None of the given answers. e. The predetermined overhead rate is normally calculated at the beginning of the period.
Ime left 0:33:52 Which one of the following is correct regarding the predetermined overhead rate? O a. The predetermined overhead rate uses actual figures for the manufacturing overhead cost but estimated figures for the cost allocation basis amount. O b. The predetermined overhead rate uses actual figures for the manufacturing overhead cost and actual figures for the cost allocation basis amount. O c. The predetermined overhead rate uses estimated figures for the manufacturing overhead cost but actual figures for the cost allocation basis amount. O d. None of the given answers. O e. The predetermined overhead rate uses estimated figures for the manufacturing overhead cost and estimated figures for the cost allocation basis amount.
Predetermined overhead rates are calculated: a. first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs. b. based on actual total manufacturing overhead costs C. by dividing total estimated manufacturing overhead cost by total actual units of the allocation base. d. none of the given answers is correct. e. at the end of the accounting period once the actual amount of manufacturing overhead is known.
All the following statements about predetermined overhead rates are correct, EXCEPT: a. calculated at the beginning of the accounting period once the actual amount of manufacturing overhead is known. O b. calculated based on estimated total manufacturing overhead costs O c. All the given answers are correct. O d. by dividing total estimated manufacturing overhead cost by actual units of the allocation base. O e. calculated first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs.
All the following statements about predetermined overhead rates are correct, EXCEPT: O a. based on estimated total manufacturing overhead costs O b. calculated at the end of the accounting period once the actual amount of manufacturing overhead is known. O c. calculated by dividing total estimated manufacturing overhead cost by estimated units of the allocation base. d. All the given answers are correct. е. calculated first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs.
If the actual amount of the manufacturing overhead allocation base is greater than the estimated amount of the allocation base used to calculate the predetermined rate, then manufacturing overhead must have been under-allocated. Select one: True False
Which of the following statements is false? a. Actual overhead costs always enter the Work-in-Process account. in b. The cost of a job includes direct materials, direct labor, and applied overhead. The use of normal costing means that overhead is applied to each job using a predetermined rate. C. d. Indirect labor is assigned as a part of overhead. e. None of these are correct. Select one: O b O e a
Which of the following is the correct formula to compute the predetermined overhead rate? a. Estimated total manufacturing overhead costs divided by actual total units in the allocation base. b. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs divided by estimated total units in the allocation base. O d. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs.
Which of the following is the correct formula to compute the predetermined overhead rate? Multiple Choice Predetermined overhead rate = Estimated total units in the allocation base ÷ Estimated total manufacturing overhead costs Predetermined overhead rate = Estimated total manufacturing overhead costs ÷ Estimated total units in the allocation base Predetermined overhead rate = Actual total manufacturing overhead costs ÷ Estimated total units in the allocation base Predetermined overhead rate = Estimated total manufacturing overhead costs ÷ Actual total units in the allocation base.
Two different questions.
Overhead costs are underapplied if the amount applied to Work in Process is: O a. greater than actual overhead incurred. O b. equal to actual overhead incurred. O c. greater than estimated overhead. O d. equal to estimated overhead. O e. None of the given answer is correct