Related Mcqs:

1. The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?

   A. proration approach
   B. appreciation approach
   C. depreciation approach
   D. adjusted approach

2. An approach which yields the benefits of normal costing and the actual manufacturing overhead is classified as ____________?

   A. unadjusted allocation rate approach
   B. adjusted budget rate approach
   C. unadjusted budget rate approach
   D. adjusted allocation rate approach

3. In throughput costing, the variable manufacturing overhead and direct manufacturing labor cost must be treated as ___________?

   A. accrual cost
   B. incurred cost
   C. period costs
   D. setup costs

4. If the fixed overhead allocated for actual output unit is $9800 and budgeted fixed overhead is $22000, then production volume variance would be _________?

   A. $31,800
   B. $12,300
   C. $12,200
   D. $41,800

5. If the fixed overhead allocated for actual output unit is $7500 and budgeted fixed overhead is $21000, then the production volume variance will be __________?

   A. $16,500
   B. $15,500
   C. $14,500
   D. $13,500

6. The fixed overhead allocated for actual output unit is subtracted from budgeted fixed overhead to calculate _______________?

   A. budget variance
   B. production volume variance
   C. price volume variance
   D. cost volume variance

7. If fixed overhead allocated for actual output units is $36000 and the production volume variance is $7000, then budgeted fixed overhead will be __________?

   A. $43,000
   B. $42,000
   C. $29,000
   D. $19,000

8. If fixed overhead allocated for actual output units is $25000 and the production volume variance is $9000, then budgeted fixed overhead will be _____________?

   A. $34,000
   B. $24,000
   C. $16,000
   D. $18,000

9. The manufacturing overhead cost allocated to individual jobs is classified as ___________?

   A. manufacturing overhead allocated
   B. cost overhead applied
   C. manufacturing overhead applied
   D. both A and C

10. In normal costing, the situation in which the allocated amount of indirect cost is greater than the incurred cost, is considered as _____________?

    A. incurred indirect cost
    B. over allocated indirect cost
    C. applied indirect cost
    D. applied direct cost