In accounting system, a document which consists of all assigned cost for specific job is classified as __________? April 20, 2025 by admin A. job cost record B. job cost sheet C. source document D. both a and b
The costing and allocating situation, in which the indirect cost allocated amount is less than actually incurred amount is known as ___________? April 20, 2025 by admin A. over allocated budget B. under allocated budget C. under allocated indirect cost D. over allocated direct cost
If an actual manufacturing overhead costs is $225000 and actual total quantity of cost allocation base is 2500 labor hours, then the overhead rate will be __________? April 20, 2025 by admin A. $60 B. $90 C. $80 D. $70
In normal costing, the manufacturing overhead allocated is also called _________? April 20, 2025 by admin A. manufacturing overhead applied B. labor overhead applied C. cost overhead applied D. budget overhead applied
An allocation approach, in which all the overhead entries are restated using actual cost rates in place of budgeted rates is called ___________? April 20, 2025 by admin A. unadjusted budget rate approach B. adjusted allocation rate approach C. unadjusted allocation rate approach D. adjusted budget rate approach
If an actual indirect cost incurred is $25000 and the indirect cost allocated is $23000, then the over allocated indirect cost would be ________? April 20, 2025 by admin A. $48,000 B. −$2000 C. $2,000 D. −$48000
In an accounting system, the document which supports journal entries is classified as _____________? April 20, 2025 by admin A. cost document B. priced document C. source document D. direct document
The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________? April 20, 2025 by admin A. proration approach B. appreciation approach C. depreciation approach D. adjusted approach
Total cost of producing similar products divided by number of units produced is a technique known as ____________? April 20, 2025 by admin A. sale costing system B. job costing system C. price costing system D. process costing system
The budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base, to calculate ___________? April 20, 2025 by admin A. expected indirect cost rate B. expected direct cost rate C. budgeted indirect cost rate D. budgeted direct cost rate
