Total indirect cost in pool by an actual quantity of cost allocation base is used to calculate
A. actual manufacturing overhead rate
B. manufacturing overhead costs
C. overhead rate
D. direct rate
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An approach which yields benefits of normal costing and actual manufacturing overhead is classified as
A. unadjusted allocation rate approach
B. adjusted budget rate approach
C. unadjusted budget rate approach
D. adjusted allocation rate approach
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Process of assigning direct or indirect cost to any cost object is known as
A. cost assignment
B. cost expectation
C. event assignment
D. probability assignment
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An average unit cost, applicable to each similar produced units is classified as
A. per unit cost
B. per post cost
C. per price cost
D. application cost
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If budgeted direct labour hours are 4550 and direct labour cost rate is $600 per labour hour then, total direct labour cost would be
A. $4,730,000
B. $3,730,000
C. $2,730,000
D. $1,730,000
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If an overhead cost of operating a machine is $500000 for 1000 hours, then cost allocation rate will be
A. $1500 per machine hour
B. $250 per machine hour
C. $500 per machine hour
D. $1000 per machine hour
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Single or multiple units of distinct services or products are classified as
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A document which consists information about labour time usage, for specific job in a specific department, is known as
A. selling time record
B. labour time record
C. buying time record
D. direct time record
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If budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be
A. $126.32 per labour hour
B. $128.32 per labour hour
C. $130 per labour hour
D. $132 per labour hour
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If budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is
A. $138 per labour hour
B. $137.27 per hour
C. $140 per labour hour
D. $142 per labour hour
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In accounting system, a document which consists of all assigned cost for specific job is classified as
A. job cost record
B. job cost sheet
C. source document
D. both a and b
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Manufacturing overhead cost allocated to individual jobs is classified as
A. manufacturing overhead allocated
B. cost overhead applied
C. manufacturing overhead applied
D. both A and C
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If budgeted annual indirect cost is 850000 an d b u d g e t e d ann u a l q u an t i t y o f cos t a l l oc a t i o nba se i s 7500, then budgeted indirect cost rate would be
A. 112.34 per piece
B. 113.33 per piece
C. 111.34 per piece
D. 110.34 per piece
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Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as
A. over allocated budget
B. under allocated budget
C. under allocated indirect cost
D. over allocated direct cost
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Systematic way of linking group of indirect cost to a cost object is classified as
A. linked allocation base
B. direct allocation base
C. indirect allocation base
D. cost allocation base
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In a normal accounting period, an allocated amount of indirect cost is 700 an d ana c t u a l am o u n t i s 800, then this can be classified as
A. under allocated indirect cost
B. over allocated direct cost
C. over allocated budget
D. under allocated budget
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If an actual indirect cost incur is 35000 an d in d i r ec t cos t a l l oc a t e d i s 43000, then under allocated indirect cost will be
A. $78,000
B. -$78000
C. -$8000
D. $8,000
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If an actual manufacturing overhead costs is $225000 and actual total quantity of cost allocation base is 2500 labour hours, then overhead rate will be
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Costing technique, in which actual direct rates are multiplied to quantity of direct cost inputs is classified as
A. priced costing
B. actual costing
C. direct costing
D. indirect costing
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In normal costing, manufacturing overhead allocated is also called
A. manufacturing overhead applied
B. labour overhead applied
C. cost overhead applied
D. budget overhead applied
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