MANAGERIAL ACCOUNTING >C<
3rd Edition
ISBN: 9781259948503
Author: Whitecotton
Publisher: MCG CUSTOM
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Chapter 2, Problem 5MC
To determine
Concept introduction:
Predetermined overhead allocation:
Manufacturing overhead cost is the pool of all indirect costs incurred for the production. These are the costs which are not directly traceable to the product.
To calculate:
The Over or Under Applied overhead cost
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Students have asked these similar questions
The amount of under or overapplied overhead is:
Select one:
O a 35500 underapplied
O b. 310,000 underapplied
O c None of the answers are correct
O d. 310,000 overapplied
O e. 1,450,000 underapplied
Q5. Explain the treatment of over and under absorption of
overheads in cost accounts.
Over-applied overhead happen when
Select one:
O a. Actual costs are more than the total amount of overhead allocated
b. Actual costs are equal to the total amount of overhead allocated
O c. None of the above
O d. Actual costs are less than the total amount of overhead allocated
Chapter 2 Solutions
MANAGERIAL ACCOUNTING >C<
Ch. 2 - What is the difference between job order and...Ch. 2 - What types of companies are likely to use job...Ch. 2 - What types companies are likely to use process...Ch. 2 - Many service industries use job order costing to...Ch. 2 - Prob. 5QCh. 2 - Prob. 6QCh. 2 - Prob. 7QCh. 2 - Prob. 8QCh. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Prob. 12QCh. 2 - Prob. 13QCh. 2 - Prob. 14QCh. 2 - Prob. 15QCh. 2 - Prob. 16QCh. 2 - Prob. 17QCh. 2 - Prob. 18QCh. 2 - Prob. 19QCh. 2 - Prob. 20QCh. 2 - Prob. 21QCh. 2 - Prob. 1MCCh. 2 - Prob. 2MCCh. 2 - Prob. 3MCCh. 2 - Prob. 4MCCh. 2 - Prob. 5MCCh. 2 - Prob. 6MCCh. 2 - Prob. 7MCCh. 2 - Applied overhead costs are recorded a. On the left...Ch. 2 - Prob. 9MCCh. 2 - Prob. 10MCCh. 2 - Identifying Companies That Use Job Order versus...Ch. 2 - Prob. 2MECh. 2 - Prob. 3MECh. 2 - Prob. 4MECh. 2 - Prob. 5MECh. 2 - Prob. 6MECh. 2 - Prob. 7MECh. 2 - Prob. 8MECh. 2 - Prob. 9MECh. 2 - Prob. 10MECh. 2 - Prob. 11MECh. 2 - Calculating Over- or Underapplied Overhead Costs...Ch. 2 - Prob. 13MECh. 2 - Prob. 14MECh. 2 - Prob. 15MECh. 2 - Calculating Direct Materials Used in Production...Ch. 2 - Calculating Missing Amounts and Cost or Goods...Ch. 2 - Prob. 19MECh. 2 - Prob. 1ECh. 2 - Preparing Journal Entries Refer to the information...Ch. 2 - Prob. 3ECh. 2 - Preparing Journal Entries Refer to the information...Ch. 2 - Prob. 5ECh. 2 - Finding Unknown Values in the Cost of Goods...Ch. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - Calculating the Cost of Finished and Unfinished...Ch. 2 - Computing Overhead Rate and Billing Rate for...Ch. 2 - Prob. 13ECh. 2 - Prob. 14ECh. 2 - Prob. 15ECh. 2 - Prob. 16ECh. 2 - Prob. 17ECh. 2 - Prob. 18ECh. 2 - Prob. 19ECh. 2 - Prob. 20ECh. 2 - Prob. 21ECh. 2 - Preparing Journal Entries Floyds Auto Repair Shop...Ch. 2 - Applying Job Order Costing in a Service Setting...Ch. 2 - Prob. 24ECh. 2 - Prob. 1.1GAPCh. 2 - Prob. 1.2GAPCh. 2 - Prob. 1.3GAPCh. 2 - Prob. 1.4GAPCh. 2 - Prob. 1.5GAPCh. 2 - Preparing Journal Entries Refer to the information...Ch. 2 - Prob. 3.1GAPCh. 2 - Prob. 3.2GAPCh. 2 - Prob. 3.3GAPCh. 2 - Prob. 3.4GAPCh. 2 - Prob. 3.5GAPCh. 2 - Prob. 4.1GAPCh. 2 - Prob. 4.2GAPCh. 2 - Prob. 4.3GAPCh. 2 - Prob. 5.1GAPCh. 2 - Prob. 5.2GAPCh. 2 - Recording Manufacturing Costs and Analyzing...Ch. 2 - Prob. 5.4GAPCh. 2 - Prob. 6GAPCh. 2 - Prob. 7.1GAPCh. 2 - Prob. 7.2GAPCh. 2 - Prob. 7.3GAPCh. 2 - Prob. 7.4GAPCh. 2 - Prob. 7.5GAPCh. 2 - Prob. 8.1GAPCh. 2 - Prob. 8.2GAPCh. 2 - Prob. 8.3GAPCh. 2 - Prob. 8.4GAPCh. 2 - Prob. 8.5GAPCh. 2 - Prob. 1.1GBPCh. 2 - Prob. 1.2GBPCh. 2 - Prob. 1.3GBPCh. 2 - Prob. 1.4GBPCh. 2 - Prob. 1.5GBPCh. 2 - Prob. 2GBPCh. 2 - Prob. 3.1GBPCh. 2 - Prob. 3.2GBPCh. 2 - Prob. 3.3GBPCh. 2 - Prob. 3.4GBPCh. 2 - Prob. 3.5GBPCh. 2 - Prob. 4.1GBPCh. 2 - Prob. 4.2GBPCh. 2 - Prob. 4.3GBPCh. 2 - Recording Manufacturing Costs and Analyzing...Ch. 2 - Recording Manufacturing Costs and Analyzing...Ch. 2 - Recording Manufacturing Costs and Analyzing...Ch. 2 - Prob. 5.4GBPCh. 2 - Prob. 6GBPCh. 2 - Prob. 7.1GBPCh. 2 - Prob. 7.2GBPCh. 2 - Prob. 7.3GBPCh. 2 - Prob. 7.4GBPCh. 2 - Prob. 7.5GBPCh. 2 - Prob. 8.1GBPCh. 2 - Prob. 8.2GBPCh. 2 - Prob. 8.3GBPCh. 2 - Prob. 8.4GBPCh. 2 - Prob. 8.5GBP
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- The predetermined overhead rate is: Select one: O a. 60 O b.5 O c 20 O d. 1.2 O e. None of the answers are correctarrow_forward18) In traditional approach, overheads are absorbed based on: a. All the options listed b. Direct labour c. Direct wages d. Machine hoursarrow_forwardOverhead costs are underapplied if the amount applied to Work in Process is: O a. less than actual overhead incurred. O b. greater than estimated overhead. Oc. less than estimated overhead. O d. None of the given answer is correct O e. greater than actual overhead incurred. DUS PAGE NEXT PAGE hp 144arrow_forward
- 37.Applied overhead consists of which of the following? a. actual activity times predetermined overhead rate b. estimated activity times predetermined overhead rate c. actual activity times actual overhead rate d. estimated activity times actual overhead ratearrow_forwardIf actual overhead is greater than applied manufacturing overhead, then manufacturing overhead is: Select one: a. None of the answers are correct O b. overapplied O c. considered a miscellaneous expense. O d. a loss on the income statement under "Other Expenses and Losses." O e. underapplied.arrow_forwardIf the actual overhead costs incurred are in excess of the applied overhead costs, the difference is called what? a) Predetermined overhead rate b) Underapplied overhead c) Overapplied overhead d) Gross marginarrow_forward
- Overapplied overhead means that A. the applied overhead cost was less than the actual overhead cost. B. the applied overhead cost was greater than the actual overhead cost. OC. the estimated overhead cost was less than the actual overhead cost. D. the estimated overhead cost was less than the applied overhead cost.arrow_forwardOverhead costs are overapplied if the amount applied to Work in Process is: O a. None of the given answer is correct O b. equal to estimated overhead. Oc. equal to actual overhead incurred. O d. less than estimated overhead. O e. less than actual overhead incurred. 5 PAGE Jump to... JIZ TWOarrow_forwardIf actual overhead is greater than applied manufacturing overhead, then manufacturing overhead is: Select one: O a. considered a miscellaneous expense. Ob. a loss on the income statement under "Other Expenses and Losses." O c. underapplied. d. O None of the answers are correct e. overappliedarrow_forward
- Overhead costs are overapplied if the amount applied to Work in Process is: O a. less than actual overhead incurred. O b. None of the given answer is correct c. greater than actual overhead incurred. Fin O d. greater than estimated overhead. O e. less than estimated overhead.arrow_forwarda) what is the under-or-over allocated indirect production (overhead) costs? Discuss methods of disposing of the under-or-over-allocated indirect production (overhead costs) at the end of the reporting period.arrow_forwardOverhead costs are underapplied if the amount applied to Work in Process is: a. greater than actual overhead incurred. O a. O b. None of the given answer is correct O c. greater than estimated overhead. O d. less than actual overhead incurred. O e. less than estimated overhead.arrow_forward
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