A single plantwide factory overhead rate is computed by dividing total budgeted factory overhead by the total budgeted plantwide allocation base. True False
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- A. How is a predetermined factory overhead rate computed? B. Name three common bases used in computing the rate.A. Describe the two variances between the actual costs and the standard costs for factory overhead. B. What is a factory overhead cost variance report?Overhead costs are assigned to each product based on __________________. A. the proportion of that products use of the cost driver B. a predetermined overhead rate for a single cost driver C. price of the product D. machine hours per product
- The overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a. dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base b. dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver c. dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver d. dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costsThe overhead absorption rate used to allocate manufacturing overhead is calculated by: a. dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver b. dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver c. dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base d. dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costsThe denominator in the single plantwide factory overhead rate calculation is a.total budgeted plantwide allocation base. b.total budgeted general and administrative expenses. c.total budgeted factory overhead in dollars. d.total budgeted selling expenses.
- The overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a. dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver b. dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costs c. dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base d. dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver The predetermined manufacturing overhead rate is usually computed: Select one: A. At the end of the financial year B. At the beginning of the financial year C. During the financial year D. When overheads have been incurredThe overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a. dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver b. dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costs c. dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base d. dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver 2.The predetermined manufacturing overhead rate is usually computed:Select one:A. At the end of the financial yearB. During the financial yearC. When overheads have been incurredD. At the beginning of the financial year 3. The traditional cost drivers used in computing overhead absorption rates are: Select one: a. floor space, rent and rates, machinery value b. direct labour hours, machine cost, direct labour cost c. direct labour hours, machine hours,…Calculate the budgeted manufacturing overhead rate per machine hour. Calculate the amount of under- or over-allocated manufacturing overhead.
- 1.The overhead absorption rate used to allocate manufacturing overhead is calculated by: Select one: a.dividing the total estimated manufacturing overhead costs by the total estimated quantity of the allocation base b.dividing the total estimated manufacturing overhead by the total actual quantity of the cost driver c.dividing the total actual manufacturing overhead costs by the total estimated quantity of the cost driver d.dividing the total estimated quantity of the cost driver by the total estimated manufacturing overhead costsDescribe how a single plantwide overhead allocation rate is used.Which of the following is the correct formula to compute the predetermined overhead rate? a. Estimated total manufacturing overhead costs divided by actual total units in the allocation base. b. Estimated total manufacturing overhead costs divided by estimated total units in the allocation base. C. Actual total manufacturing overhead costs divided by estimated total units in the allocation base. O d. Estimated total units in the allocation base divided by estimated total manufacturing overhead costs.
