If budgeted indirect cost arte is $225 and budgeted cost allocation base is $750 per hour, then annual indirect cost (budgeted) would be
If budgeted indirect cost arte is $225 and budgeted cost allocation base is $750 per hour, then annual indirect cost (budgeted) would be
Which one of following is an example of spoilage?
Which one of following is an example of spoilage?
An average unit cost, applicable to each similar produced units is classified as
An average unit cost, applicable to each similar produced units is classified as
Methods used to allocate costs of reciprocal support departments include
Methods used to allocate costs of reciprocal support departments include
An allocation approach, in which all overhead entries are restated using actual cost rates in place of budgeted rates is called
An allocation approach, in which all overhead entries are restated using actual cost rates in place of budgeted rates is called
Department which directly adds value to product or service is known as
Department which directly adds value to product or service is known as
Type of spoilage, which is considered as controllable and can be avoided is called
Type of spoilage, which is considered as controllable and can be avoided is called
Point in joint production process, in which two or more products are separately identifiable is termed as
Point in joint production process, in which two or more products are separately identifiable is termed as
In normal costing, manufacturing overhead allocated is also called
In normal costing, manufacturing overhead allocated is also called
An under allocated indirect cost is also called
An under allocated indirect cost is also called
First step in constant gross margin percentage NRV method is to allocate joint to compute
First step in constant gross margin percentage NRV method is to allocate joint to compute
Joint cost allocation method, in which individual product from joint products must gain a gross margin percentage is classified as
Joint cost allocation method, in which individual product from joint products must gain a gross margin percentage is classified as
Budgeted total direct labour cost is divided with budgeted total direct labour to calculate
Budgeted total direct labour cost is divided with budgeted total direct labour to calculate
An expected future revenue, which diverges in unconventional course of action is classified as
An expected future revenue, which diverges in unconventional course of action is classified as
Budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base to calculate
Budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base to calculate
If an actual indirect cost incur is $35000 and indirect cost allocated is $43000, then under allocated indirect cost will be
If an actual indirect cost incur is $35000 and indirect cost allocated is $43000, then under allocated indirect cost will be
Partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called
Partial or completed units of manufactured goods, that do not meet customer specifications and get sold at reduced price or simply discarded, are called
Support department cost allocation method which makes no difference between variable and fixed costs is classified as
Support department cost allocation method which makes no difference between variable and fixed costs is classified as
Third ranked product in incremental revenue-allocation method is known as
Third ranked product in incremental revenue-allocation method is known as
Method, which allocates cost of support department to operating and support departments is known as
Method, which allocates cost of support department to operating and support departments is known as
A group of individual indirect cost item is defined as
A group of individual indirect cost item is defined as
If budgeted indirect cost arte is $115 and budgeted cost allocation base is $830 per hour, then annual indirect cost (budgeted) will be
If budgeted indirect cost arte is $115 and budgeted cost allocation base is $830 per hour, then annual indirect cost (budgeted) will be
Budgeted direct labour hours are multiplied to direct labour cost rate to calculate
Budgeted direct labour hours are multiplied to direct labour cost rate to calculate
Balancing of all aspects of products or services and all departments in company are classified as
Balancing of all aspects of products or services and all departments in company are classified as
If value of final sales is $48000 and net realizable value is $35000, then value of sales costs would be
If value of final sales is $48000 and net realizable value is $35000, then value of sales costs would be
If final sales are $50000 and separable costs are $35000, then net realizable value will be
If final sales are $50000 and separable costs are $35000, then net realizable value will be
In incremental cost allocation method, cost object user who is ranked second in ranking order is known as
In incremental cost allocation method, cost object user who is ranked second in ranking order is known as
First step in process costing system is to
First step in process costing system is to
Cost of operating activity, facility or any cost object which usually shares by two or more than two users is classified as
Cost of operating activity, facility or any cost object which usually shares by two or more than two users is classified as
Costing system, which is a combination of process costing and job costing system is classified as
Costing system, which is a combination of process costing and job costing system is classified as
Net realizable value is added into separate costs to calculate
Net realizable value is added into separate costs to calculate
If budgeted annual manufacturing indirect cost is $2250000 and cost allocation base is 2800 labour hour, then budgeted manufacturing overhead rate will be
If budgeted annual manufacturing indirect cost is $2250000 and cost allocation base is 2800 labour hour, then budgeted manufacturing overhead rate will be
Normal spoilage is subtracted from total spoilage to calculate
Normal spoilage is subtracted from total spoilage to calculate
Total transferred-out cost plus normal spoilage is divided by number of goods units produced to calculate
Total transferred-out cost plus normal spoilage is divided by number of goods units produced to calculate
Stage in production process, where manufactured goods are checked; whether units are acceptable or not is classified as
Stage in production process, where manufactured goods are checked; whether units are acceptable or not is classified as
Second step in developing operating budget is to
Second step in developing operating budget is to
Residual material which results from manufacturing products is called
Residual material which results from manufacturing products is called
Production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as
Production units that do not meet customer specification, but can be sold to other customers as finished goods are classified as
If an overhead cost of operating a machine is $500000 for 1000 hours, then cost allocation rate will be
If an overhead cost of operating a machine is $500000 for 1000 hours, then cost allocation rate will be
As compared to sale value of main products, by-products have
As compared to sale value of main products, by-products have
Final sales is subtracted from net realizable value is used to calculate
Final sales is subtracted from net realizable value is used to calculate
Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as
Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as
Procedure of assigning direct cost to any cost abject is classified as
Procedure of assigning direct cost to any cost abject is classified as
If budgeted direct labour hours are 4550 and direct labour cost rate is $600 per labour hour then, total direct labour cost would be
If budgeted direct labour hours are 4550 and direct labour cost rate is $600 per labour hour then, total direct labour cost would be
Process in which earned revenue is related to specific revenue object, which can cannot trace it in cost effective way is known as
Process in which earned revenue is related to specific revenue object, which can cannot trace it in cost effective way is known as
In normal costing, situation in which allocated amount of indirect cost is greater than incurred cost, is considered as
In normal costing, situation in which allocated amount of indirect cost is greater than incurred cost, is considered as
If budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then budgeted indirect cost rate will be
If budgeted cost in indirect cost pool is $144500 and total quantity of cost allocation base is $165500, then budgeted indirect cost rate will be
In a joint process of production, two or more products that yield high volume of sales as compared to total sales of other products are classified as
In a joint process of production, two or more products that yield high volume of sales as compared to total sales of other products are classified as
Joint cost allocation method for joint products, which is based on achievable value is known as
Joint cost allocation method for joint products, which is based on achievable value is known as
If net realizable value is $20000 and separable costs are $18000, then final sales will be
If net realizable value is $20000 and separable costs are $18000, then final sales will be
Total cost related to work in process inventory is divided by total units of work done is used to calculate
Total cost related to work in process inventory is divided by total units of work done is used to calculate
Approaches to allocate costs of support department do not include
Approaches to allocate costs of support department do not include
According to incremental method, party which receives highest ranking in allocation of common cost is classified as
According to incremental method, party which receives highest ranking in allocation of common cost is classified as
If total incurred cost in a production process are $30000 and number of output units are 5000 units, then units cost will be
If total incurred cost in a production process are $30000 and number of output units are 5000 units, then units cost will be
If units of normal spoilage are 150 and total good units manufactured are 1500, then normal spoilage rate would be
If units of normal spoilage are 150 and total good units manufactured are 1500, then normal spoilage rate would be
Spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as
Spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as
A document which consists information about labour time usage, for specific job in a specific department, is known as
A document which consists information about labour time usage, for specific job in a specific department, is known as
Factor which provides hedge to managers in adverse and unexpected circumstances is known as
Factor which provides hedge to managers in adverse and unexpected circumstances is known as
Method, which allocates cost of support department for operating departments by recognizing all mutual services provided is classified as
Method, which allocates cost of support department for operating departments by recognizing all mutual services provided is classified as
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
Third step in constant gross margin percentage NRV Method to allocate joint cost is to compute
Method which allocates joint costs of joint products, considering physical measures such as volume or relative weight at point of split off is known as
Method which allocates joint costs of joint products, considering physical measures such as volume or relative weight at point of split off is known as
An amount of spoilage that is natural in any particular production process is classified as
An amount of spoilage that is natural in any particular production process is classified as
A particular term for which specific revenue measurement is required is known as
A particular term for which specific revenue measurement is required is known as
In stand-alone revenue-allocation method, type of weights available for this method is
In stand-alone revenue-allocation method, type of weights available for this method is
In a joint process of production, product which yields low volume of sales as compared to total sales of other products is known as
In a joint process of production, product which yields low volume of sales as compared to total sales of other products is known as
A unit cost calculated in costing system, by assigning total costs incurred to many similar units is categorized as
A unit cost calculated in costing system, by assigning total costs incurred to many similar units is categorized as
Units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate
Units of normal spoilage are divided to total completed units, rather than total actual produced units to calculate
Department which provides assisting services to internal departments is classified as
Department which provides assisting services to internal departments is classified as
Single or multiple units of distinct services or products are classified as
Single or multiple units of distinct services or products are classified as
Costs, which consist of interdepartmental cost allocations plus cost of support department are classified as
Costs, which consist of interdepartmental cost allocations plus cost of support department are classified as
If budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be
If budgeted annual indirect cost is $85000 and budgeted annual quantity of cost allocation base is $7500, then budgeted indirect cost rate would be
If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
If beginning work in process equivalent units are 2500 units, work done in current period equivalent units are 3800 units and ending work in process equivalent units are 5000, then complete equivalent units in current period are
Term which describes assigning of indirect cost to any cost abject is classified as
Term which describes assigning of indirect cost to any cost abject is classified as
Package which consists of two or more products to be sold for single price, but components of products in package have separate stand-alone price is called
Package which consists of two or more products to be sold for single price, but components of products in package have separate stand-alone price is called
If an actual indirect cost incurred is $25000 and indirect cost allocated is $23000, then over allocated indirect cost would be
If an actual indirect cost incurred is $25000 and indirect cost allocated is $23000, then over allocated indirect cost would be
Fifth step in process costing system is to
Fifth step in process costing system is to
Method of revenue allocation, which ranks products included in bundle according to predetermined criteria of management is known as
Method of revenue allocation, which ranks products included in bundle according to predetermined criteria of management is known as
Method which allocates cost of support department to only operating departments is called
Method which allocates cost of support department to only operating departments is called
An expected future cost which diverges in unconventional course of action is known's as
An expected future cost which diverges in unconventional course of action is known's as
If percentage of overall gross margin is 15 and final sales value of whole production is $20000, then gross margin (in dollars) will be
If percentage of overall gross margin is 15 and final sales value of whole production is $20000, then gross margin (in dollars) will be
In an accounting system, document which supports journal entries is classified as
In an accounting system, document which supports journal entries is classified as
Cost of abnormal spoilage is not treated as
Cost of abnormal spoilage is not treated as
An example of rework is
An example of rework is
Cost of previous department is a part of
Cost of previous department is a part of
Types of spoilage include
Types of spoilage include
Costs incurred in production process that yield range of products simultaneously are known as
Costs incurred in production process that yield range of products simultaneously are known as
If budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be
If budgeted total direct labour hours are 3800 and budgeted direct labour cost is $480000, then budgeted direct labour cost rate will be
Method, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as
Method, which uses specific information on products as weights to allocate bundled revenues for each product in bundle is classified as
Costing technique, in which actual direct rates are multiplied to quantity of direct cost inputs is classified as
Costing technique, in which actual direct rates are multiplied to quantity of direct cost inputs is classified as
In process and job costing system, normal spoilage cost is considered as
In process and job costing system, normal spoilage cost is considered as
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
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
Percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate
Percentage of overall gross margin is multiplied to final sales value of products total production is used to calculate
In a joint process of production, a product which yields high volume of sales as compared to total sales volume of other products is known as
In a joint process of production, a product which yields high volume of sales as compared to total sales volume of other products is known as
Any output that has total positive sales is a
Any output that has total positive sales is a
Situation in which cost object has any job, customer or product is known as
Situation in which cost object has any job, customer or product is known as
In a normal accounting period, allocated amount of indirect cost is $2000 and actual amount is $2200, then this is classified as
In a normal accounting period, allocated amount of indirect cost is $2000 and actual amount is $2200, then this is classified as
Total costs incur in a production process, is divided by total number of output units to calculate the
Total costs incur in a production process, is divided by total number of output units to calculate the
Second step, in constant gross margin percentage NRV method, to allocate joint cost is to compute
Second step, in constant gross margin percentage NRV method, to allocate joint cost is to compute
Method which divides support department cost into two dimensions such as fixed and variable cost pool is classified as
Method which divides support department cost into two dimensions such as fixed and variable cost pool is classified as
Sum of beginning work in process inventory units and started units, is subtracted from sum of ending work in process inventory units and transferred out units of goods to calculate
Sum of beginning work in process inventory units and started units, is subtracted from sum of ending work in process inventory units and transferred out units of goods to calculate
Second step in processing costing system is to
Second step in processing costing system is to
In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate
In normal costing, budgeted rate is multiplied to an actual quantity, which have been used as allocation base to calculate
Schedule of expected disbursements and cash receipts is considered as
Schedule of expected disbursements and cash receipts is considered as
In incremental cost allocation method, cost object user who is ranked third in ranking order is classified as
In incremental cost allocation method, cost object user who is ranked third in ranking order is classified as
Standardized technique that is performed repetitively on different kind of materials to convert them into different finished products is known as
Standardized technique that is performed repetitively on different kind of materials to convert them into different finished products is known as
Method which ranks cost object incurred by individual users, in ranking order of more responsible users is classified as
Method which ranks cost object incurred by individual users, in ranking order of more responsible users is classified as
If an actual manufacturing overhead costs is $485000 and actual total quantity of cost allocation base is 4500 labour hours, then overhead rate would be
If an actual manufacturing overhead costs is $485000 and actual total quantity of cost allocation base is 4500 labour hours, then overhead rate would be
If employees of division A work for 8000 hours for $90 per hour, then rate must be paid in division B in accordance of single rate method will be
If employees of division A work for 8000 hours for $90 per hour, then rate must be paid in division B in accordance of single rate method will be
If an allocated indirect cost is $1500 and actual incurred indirect cost is $1200, then this is classified as
If an allocated indirect cost is $1500 and actual incurred indirect cost is $1200, then this is classified as
If beginning work in process equivalent units is 2500 units, work done in current period equivalent units is 3800 units and units completed in current period are 4000, then ending work in process equivalent units will be
If beginning work in process equivalent units is 2500 units, work done in current period equivalent units is 3800 units and units completed in current period are 4000, then ending work in process equivalent units will be
Difference between final sales value and separable costs is equal to
Difference between final sales value and separable costs is equal to
Total cost of producing similar products divided by number of units produced is a technique known as
Total cost of producing similar products divided by number of units produced is a technique known as
If budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is
If budgeted total direct labour hours are 5500 and budgeted direct labour cost is $755000, then budgeted direct labour cost rate is
If budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be
If budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be
Gross margin is subtracted from sales value of all production to yield
Gross margin is subtracted from sales value of all production to yield
Approaches used to allocate joint costs include
Approaches used to allocate joint costs include
If budget sales units are 8000, ending inventory is 2000 units and beginning inventory is 3000, then budget production would be
If budget sales units are 8000, ending inventory is 2000 units and beginning inventory is 3000, then budget production would be
Aspects of accounting for scrap includes
Aspects of accounting for scrap includes
A joint cost allocation method is based on relative value of total sales, at point of split off is classified as
A joint cost allocation method is based on relative value of total sales, at point of split off is classified as
Method which determines weights of cost allocation by considering cost of each user as separate entity is known as
Method which determines weights of cost allocation by considering cost of each user as separate entity is known as
If beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and completed good units are 8000 then total spoilage will be
If beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and completed good units are 8000 then total spoilage will be
If cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be
If cost incurred for work in process inventory is $350000 and total equivalent units completed till date are 3500, then weighted average cost will be
Costing system, which classify cost into cost categories in a way when an expense is incurred in process is called
Costing system, which classify cost into cost categories in a way when an expense is incurred in process is called
First ranked product, in incremental revenue allocation method, is classified as
First ranked product, in incremental revenue allocation method, is classified as
Gross margin percentage in constant gross-margin percentage NRV method is based on
Gross margin percentage in constant gross-margin percentage NRV method is based on
An additional cost, incurred for some specific activity to bring processed product on to next production stage is
An additional cost, incurred for some specific activity to bring processed product on to next production stage is
A document which contains information about materials of specific product, in specific department comes under
A document which contains information about materials of specific product, in specific department comes under
Cash sales, accounts receivables and rental receipts all are known as
Cash sales, accounts receivables and rental receipts all are known as
Costing, which explains how and when scrap affects operating income of company is classified as
Costing, which explains how and when scrap affects operating income of company is classified as
In accounting system, a document which consists of all assigned cost for specific job is classified as
In accounting system, a document which consists of all assigned cost for specific job is classified as
In process costing method, when work done in current accounting period and beginning inventory before current accounting period, is classified as
In process costing method, when work done in current accounting period and beginning inventory before current accounting period, is classified as
Centers such as revenue, cost, investment and profit all are known as
Centers such as revenue, cost, investment and profit all are known as
Costing method, which calculates per equivalent unit cost of all production related work done till calculate date is termed as
Costing method, which calculates per equivalent unit cost of all production related work done till calculate date is termed as
Third step in process costing system is to
Third step in process costing system is to
Forth step in process costing system is to
Forth step in process costing system is to
Hybrid costing system, which is applied to batches of similar products, but are not identical is classified as
Hybrid costing system, which is applied to batches of similar products, but are not identical is classified as
If transferred out total cost is $1850000 and number of good units (produced), then cost per good unit transferred out and completed can be
If transferred out total cost is $1850000 and number of good units (produced), then cost per good unit transferred out and completed can be
Total indirect cost in pool by an actual quantity of cost allocation base is used to calculate
Total indirect cost in pool by an actual quantity of cost allocation base is used to calculate
Costs that are incurred in last department, where product has been processed and will be carried to next department for further processing are called
Costs that are incurred in last department, where product has been processed and will be carried to next department for further processing are called
An approach which yields benefits of normal costing and actual manufacturing overhead is classified as
An approach which yields benefits of normal costing and actual manufacturing overhead is classified as
Second ranked product in incremental revenue allocation method is termed as
Second ranked product in incremental revenue allocation method is termed as
Considering dual rate method, if employees work for 8500 budgeted hours at $120 per hour and work for 9500 actual hours at $110 per hour, then total cost would be
Considering dual rate method, if employees work for 8500 budgeted hours at $120 per hour and work for 9500 actual hours at $110 per hour, then total cost would be
Manufacturing, distribution and marketing costs incur after split off point is classified under
Manufacturing, distribution and marketing costs incur after split off point is classified under
If budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then budgeted indirect cost rate would be
If budgeted cost in indirect cost pool is $139600 and total quantity of cost allocation base is $155600, then budgeted indirect cost rate would be
Systematic way of linking group of indirect cost to a cost object is classified as
Systematic way of linking group of indirect cost to a cost object is classified as
Process of assigning direct or indirect cost to any cost object is known as
Process of assigning direct or indirect cost to any cost object is known as
An amount of spoilage that is not natural in a specific production process is categorized as
An amount of spoilage that is not natural in a specific production process is categorized as
Manufacturing overhead cost allocated to individual jobs is classified as
Manufacturing overhead cost allocated to individual jobs is classified as
In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as
In a normal accounting period, an allocated amount of indirect cost is $700 and an actual amount is $800, then this can be classified as
cost object user, who is ranked first in incremental cost allocation method is known as
cost object user, who is ranked first in incremental cost allocation method is known as
Value of sales considers sales value at split off method is of
Value of sales considers sales value at split off method is of
Products, divisions and customers are examples of
Products, divisions and customers are examples of
