Two different questions. 20Which one of the following is related to the planningfunction of management:O a. Establishing goalsO b. None of the given answersOc Gathering feedbackd. Comparison between actual and budgetedresultsO e. Performance reports onAll the following statements about predeterminedoverhead rates are correct, EXCEPT:O a. calculated fırst and then multiplied by totalactual units of the allocation base to computet ofthe applied manufacturing overhead costs.O b. based on estimated total manufacturingoverhead costsO c.calculated by dividing total estimatedmanufacturing overhead cost by estimatedunits of the allocation base.O d. All the given answers are correct.calculated at the end of the accounting periodonce the actual amount of manufacturingoverhead is known.O e.

Overhead rates refers to the cost allocated to the production of a product or a service required by…

Answered: Which one of the following is related…

Business

Accounting

Which one of the following is related to the planning function of management: a. Establishing goals

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 1P: The cost behavior patterns below are lettered A through H. The vertical axes of the graphs represent...

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Question

Two different questions.

20
Which one of the following is related to the planning
function of management:
O a. Establishing goals
O b. None of the given answers
Oc Gathering feedback
d. Comparison between actual and budgeted
results
O e. Performance reports

on
All the following statements about predetermined
overhead rates are correct, EXCEPT:
O a. calculated fırst and then multiplied by total
actual units of the allocation base to compute
t of
the applied manufacturing overhead costs.
O b. based on estimated total manufacturing
overhead costs
O c.
calculated by dividing total estimated
manufacturing overhead cost by estimated
units of the allocation base.
O d. All the given answers are correct.
calculated at the end of the accounting period
once the actual amount of manufacturing
overhead is known.
O e.

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All the following statements about predetermined overhead rates are correct, EXCEPT: O a. based on estimated total manufacturing overhead costs O b. calculated at the end of the accounting period once the actual amount of manufacturing overhead is known. O c. calculated by dividing total estimated manufacturing overhead cost by estimated units of the allocation base. d. All the given answers are correct. е. calculated first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs.
All the following statements about predetermined overhead rates are correct, EXCEPT: a. calculated at the beginning of the accounting period once the actual amount of manufacturing overhead is known. O b. calculated based on estimated total manufacturing overhead costs O c. All the given answers are correct. O d. by dividing total estimated manufacturing overhead cost by actual units of the allocation base. O e. calculated first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs.
Predetermined overhead rates are calculated: a. first and then multiplied by total actual units of the allocation base to compute the applied manufacturing overhead costs. b. based on actual total manufacturing overhead costs C. by dividing total estimated manufacturing overhead cost by total actual units of the allocation base. d. none of the given answers is correct. e. at the end of the accounting period once the actual amount of manufacturing overhead is known.
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.
What formula do we use in accounting to determine estimated total manufacturing overhead (MOH)? Group of answer choices Y= mX +b Y = a + bX (Estimated Total MOH/(Estimated Total Cost Driver) (Actual Total MOH)/(Actual Total Cost Driver) (Estimated Total MOHV(Actual Total Cost Driver)
When calculating the predetermined manufacturing overhead rate, what is the correct basis of calculation? a.Estimated overhead costs divided by the estimated amount of the cost driver or allocation base b.Estimated amount of the cost driver divided by the estimated total overhead costs c.Estimated overhead costs divided by the number of days in a year d.Actual overhead costs of the prior year divided by the actual amount of the cost driver or allocation base
The first step in applying the average cost method when computing for the unit cost is to: a. Add the beginning work in process costs to the current period’s production costs. b. Divide the current period’s production costs by the equivalent units. c. Subtract the beginning work in process costs from the current period’s production costs. d. A and B
The appropriate calculation of the predetermined overhead rate is _________. A. Actual overhead cost divided by a predetermined allocation base B. Estimated overhead cost divided by actual allocation base C. Estimated overhead cost divided by an estimated allocation base D. Actual overhead cost divided by an actual allocation base
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 costs
The first step in determining the cost per EUP per cost component under the weighted average method is to * a. add the beginning Work in Process Inventory cost to the current period's production cost.b. divide the current period's production cost by the equivalent units.c. subtract the beginning Work in Process Inventory cost from the current period's production cost.d. divide the current period's production cost into the EUP.
True or False. The predetermined overhead rate is an amount obtained by dividing the total overhead for the past period by the total overhead allocation base for the coming period.
The equivalent units for the FIFO unit cost represent: a. work done during the current period. b. work done during the current period and the previous period. c. work done on units completed during the current period. d. work done during the previous period. e. the same thing as the equivalent units for the weighted average unit cost.