Accounting MCQs with Answers
The procedure of assigning the direct cost to any cost abject is classified as ____________?
A. sales allocation B. cost tracing C. cost allocation D. sales tracing
If the budgeted indirect cost arte is $115 and the budgeted cost allocation base is $830 per hour, then the annual indirect cost (budgeted) will be ___________?
A. $93,450 B. $94,560 C. $96,450 D. $95,450
If the budgeted annual manufacturing indirect cost is $2250000 and the cost allocation base is 2800 labor hour, then budgeted manufacturing overhead rate will be ___________?
A. $803.571 per labor hour B. $805 per labor hour C. $905 per labor hour D. $802 per labor hour
In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as __________?
A. over allocated budget B. under allocated budget C. under allocated indirect cost D. over allocated direct cost
If the budgeted indirect cost is $225 and the budgeted cost allocation base is $750 per hour, then the annual indirect cost (budgeted) would be __________?
A. $168,750 B. $148,570 C. $186,750 D. $125,680
In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate ___________?
A. budget overhead applied B. manufacturing overhead applied C. labor overhead applied D. none of above
The situation in which the cost object has any job, customer or product is known as _________?
A. cost application base B. sale application base C. price application base D. direct application base
If the budgeted direct labor hours are 3550 and direct labor cost rate is $500 per labor hour, then total direct labor cost would be __________?
A. $1,775,000 B. $1,675,000 C. $1,875,000 D. $1,975,000