Accounting Medium A group of individual indirect cost item is defined as ___________? A direct pool ✓ B cost pool ✓ C indirect pool ✓ D item pool ✓ AK Ali Khan 4 months ago
Accounting Medium An average unit cost, applicable to each similar produced unit is classified as __________? A per unit cost ✓ B per post cost ✓ C per price cost ✓ D application cost ✓ AK Ali Khan 4 months ago
Accounting Medium The single or multiple units of distinct services or products are classified as _________? A cost ✓ B job ✓ C post ✓ D price ✓ AK Ali Khan 4 months ago
Accounting Medium 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 ✓ AK Ali Khan 4 months ago
Accounting Medium The costing and allocating situation, in which the 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 ✓ AK Ali Khan 4 months ago
Accounting Medium If an actual manufacturing overhead costs is $225000 and actual total quantity of cost allocation base is 2500 labor hours, then the overhead rate will be __________? A $60 ✓ B $90 ✓ C $80 ✓ D $70 ✓ AK Ali Khan 4 months ago
Accounting Medium In normal costing, the manufacturing overhead allocated is also called _________? A manufacturing overhead applied ✓ B labor overhead applied ✓ C cost overhead applied ✓ D budget overhead applied ✓ AK Ali Khan 4 months ago
Accounting Medium An allocation approach, in which all the overhead entries are restated using actual cost rates in place of budgeted rates is called ___________? A unadjusted budget rate approach ✓ B adjusted allocation rate approach ✓ C unadjusted allocation rate approach ✓ D adjusted budget rate approach ✓ AK Ali Khan 4 months ago
Accounting Medium If an actual indirect cost incurred is $25000 and the indirect cost allocated is $23000, then the over allocated indirect cost would be ________? A $48,000 ✓ B −$2000 ✓ C $2,000 ✓ D −$48000 ✓ AK Ali Khan 4 months ago
Accounting Medium In an accounting system, the document which supports journal entries is classified as _____________? A cost document ✓ B priced document ✓ C source document ✓ D direct document ✓ AK Ali Khan 4 months ago