Managerial Accounting | Chapter 2

Factory labor charges that cannot be easily traced to a job are treated as

Typical cost drivers include:

All manufacturing costs are assigned to units of product and all nonmanufacturing costs are treated as period cost under ___________ costing

to calculate a predetermined overhead rate, divide estimated manufacturing overhead by

categories of manufacturing costs include

companies that make many different products each period use __________ __________ costing

manufacturing overhead costs:

compared to plantwide overhead rate system, a multiple predetermined overhead rate system is

A measure such as direct labor hours, or machine hours that is used to assign overhead costs to products and services

The total cost of a job is calculated by adding the total of direct labor cost, direct material costs and

Widely used allocation bases in manufacturing are

The formula for applying overhead to a specific job is

A job cost sheet contains

A cost driver

Labor costs that are easily traced to a job are called ______ labor costs

________________ hours would not be a good allocation base for manufacturing overhead.

Predetermined overhead rate per direct labor hour

The manufacturing overhead account contains:

The document that records the materials, labor, and manufacturing overhead costs charged to a job is:

The total cost of a job includes:

A multiple predetermined overhead rate system is more accurate than a plantwide overhead rate system because it:

The unit product cost is the same as the:

Materials requisition forms are used for

A normal costing system applies overhead by job my multiplying a ___________ ____________ rate by the _________ amount of the allocation base incurred by the job.

an hour-by-hour summary of an employee's activities throughout the day is found on the _____ ________

A factor that causes overhead costs is called a :

Which of the following is an essential quality of an overhead allocation base?

Based on the information, the predetermined overhead rate per direct labor dollar for department B is

A single predetermined overhead rate is called a ________ overhead rate.

The predetermined overhead rate is multiplied by the actual allocation base incurred by a job to find

Manufacturing overhead costs:

An allocation base is a(n)

A bill of materials contain

The process used to assign overhead costs to products is called overhead __________.

The formula y = a + b(x) , X represents the ________________.

The predetermined overhead rate is multiplied by the actual allocation base incurred by a job to find

Overhead application is the process of:

In the formula Y= a + bX, b represents the estimated:

In the formula Y=a+bX, represents the estimated:

The formula for applying overhead to a specific job is:

the process used to assign overhead costs to products is called overhead ________.

Smith, Inc. uses a job-order costing system with the predetermined overhead rate of $12 per machine-hour. The job cost sheet for Job #42A listed $12,000 in direct labor cost, $18,000 in direct materials cost, 1,200 direct labor-hours and 1,100 machine-hours. The total cost of Job #42A is $43,200. What is the total cost of Job #42A?

Companies assign costs to products and services to:

Cost-plus pricing occurs when:

The adjustment for underapplied overhead:

To calculate the unit product cost using the job cost sheet:

Total manufacturing overhead costs tend to:

Why do companies use a predetermined overhead rate rather than an actual overhead rate?