the manufactured overhea

Q: Class what are the two types of manufacturing overhead? How do they affect the manufacturing…

A: The objective of the question is to understand the two types of manufacturing overhead and how they…

Q: Under what conditions would it be appropriate to use a process costing system? Give two examples of…

A: A method for calculating the overall manufacturing costs for each unit of a product is known as a…

Q: Using ABC to allocate manufacturing overhead can helpmanagers to:a. Identify what activities drive…

A:

Q: Is hiring of specialized manufacturing equipment a manufacturing overhead cost? Explain why or why…

A: Overhead cost is the sum of all indirect costs which are not directly traceable to the final goods…

Q: What are equivalent units? Why are they needed with a process costing system?

A: Process costing is the process of allocating the costs to products based on the production process.…

Q: how do I find total over- or underapplied fixed manufacturing overhead?

A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…

Q: So, what's the difference between job order and process cost systems? Explain each system's product

A: This question tells about How do work order vs. process cost systems differ? Explain the products of…

Q: What's predetermined overhead used for, and why?

A: A predetermined overhead rate is a rate that is used to apply the expected cost of manufacturing…

Q: Formula for FIxed Overhead How do you find fixed overhead?  What is the formula?

A: Overheads refers to the total cost of indirect materials, indirect labour and indirect expenses.…

Q: Explain the benefits of using a predetermined overhead rate instead of an actual overhead rate.

A:

Q: What reasons is product cost information needed, job order cost system and process cost system?

A: Note: As the question is not clear. It is assumed that the question is asking for “Why product cost…

Q: How do you calculate the predetermined overhead rate do you have an example

A: An allocation rate used to estimate the manufacturing costs is termed as predetermined overhead…

Q: What are the uses for activity-based cost information in service industries?

A: Costing method is a method in which the total cost of the product is calculated.

Q: What are the two types of manufacturing overhead? How do they affect the manufacturing overhead…

A: Manufacturing Expenses or Overhead are the indirect type of costs that a business incurs. These…

Q: Define the term manufacturing overheads.

A: Manufacturing overhead is all indirect costs incurred during the production process. This overhead…

Q: What variables should be considered while selecting between a task order and a process cost system…

A: Process costing: process costing is a costing method used by companies that produce homogeneous…

Q: What are the two primary elements that influence the amount of overhead that is absorbed?

A: Whenever overheads are absorbed in a rate determined by objective data, the absorbed overhead should…

Q: What is FIFO ? Explain FIFO in Process Costing in details.

A: The FIFO approach of process costing transfers expenses to the next division and then to completed…

Q: Indicate whether the following statement is true or false, then support your view. By using a…

A: Traditional method of costing is the method of allocating overheads based on the single cost driver.…

Q: ould the unit produ

A: RimsPostOverhead costActivity RateActivity LevelAllocated costActivity LevelAllocated costMachine…

Q: How does time and motion study works? How could this method or process quantify the labor standard…

A: Cost accounting: Cost accounting is the process of classifying, recording, analyzing and…

Q: Do the engineering decisions account for the majority of product costs?

A: Yes, engineering decisions will account for the majority of the cost of the product. The main task…

Q: n fixed overhead applied to work in process 3600

A: Standard fixed overhead applied is the standard direct hours available into standard fixed overhead…

Q: What reasons is product cost information needed, job order cost system and process cost system?

A: The Answer is here:

Q: Differences between fixed overhead and fixed cost. Like if im running a resturants, give me a…

A: Fixed Overhead  Fixed overhead refers to the indirect costs or expenses that remain relatively…

Q: Under what conditions would it be appropriate to use a process costing system?

A: Process Costing: Process Costing is refer as method of costing in which all the cost which are…

Q: How is the predetermined overhead allocation rate used by service companies?

A: Definition:   Manufacturing Overheads:   Predetermined manufacturing overhead rate is the rate that…

Q: type of Overheads

A: There are various costs incurred while running a business. While some costs can be directly traced…

Q: What are the cost estimation methods? What is their importance and can you provide an example of how…

A: Cost Estimation: The process of predicting the financial and other resources required to finish a…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.