Exam 3 Accounting

In activity-based costing, costs are traced to individual activities and then allocated to cost objects.

A plantwide overhead rate method is adequate when a company produces only one product or has multiple products that use about the same amount of indirect resources.

In activity-based costing, low-volume complex products are usually undercosted and high volume simpler products are overcosted, because the method fails to reflect the different uses of indirect resources.

With activity-based costing, complex products are assigned a larger portion of overhead.

Activity-based costing can improve costing activity for:

A system of assigning costs to departments and products on the basis of a variety of activities instead of only one allocation base is called:

Which of the following is not a limitation of activity-based costing?

Job order costing systems normally use:

A company that makes which of the following types of products would best be suited for a job costing system?

A job order production system would be appropriate for a company that produces which one of the following items?

A job cost sheet shows information about each of the following items except:

If overhead applied is less than actual overhead incurred, it is:

A job cost sheet includes:

Large aircraft producers such as the Boeing Company normally use:

A type of production that yields customized products or services for each customer is called:

Manufacturing overhead is applied to each job using which formula?

The source document that captures how much time a worker has spent on various jobs during the period is a

The most common method for disposing of over- or underapplied overhead is to

When disposed of, overapplied manufacturing overhead will

When disposed of, underapplied manufacturing overhead will

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $215,000, and actual labor hours were 21,000. Which of the following would be correct?

. Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $415,000, and actual labor hours were 21,000. Which of the following would be correct?

. Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $415,000, and actual labor hours were 21,000. Which of the following would be correct?

Manufacturing overhead was estimated to be $200,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $215,000, actual labor hours were 21,000. The predetermined overhead rate would be

Acme Company had the following information for the year: DM: 110,000 DL incurred (5,000) 150,000 manufactoring overhead: 166,000 Acme Company used a predetermined overhead rate of $35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process balance of $17,000. How much overhead was applied during the year?

personnel administrative is an example of

purchase order processing is an example of a