Find how much was total overhead under or over absorbed

Assignment Help Cost Accounting
Reference no: EM132618954

Problem 1: Total of indirect material, indirect labour and indirect expenses is called:

a. Indirect overhead

b. Production cost

c. Overheads cost

d. Chargeable cost

e. All of the above

Problem 2: A company uses an overhead absorption rate of R3.50 per machine hour, based on 32 000 budgeted machine hours for the period. During the same period the actual total overhead expenditure amounted to R108 875 and 30 000 machine hours were recorded on actual production.

By how much was the total overhead under or over absorbed for the period?

a. Under absorbed R3 875

b. Under absorbed R7 000

c. Over absorbed R3 875

d. Over absorbed R7 000

e. Over absorbed R8 875

Problem 3: Electricity charges are allocated on the basis of:

a. Number of light points

b. Cost of machines

c. Factory costs

d. a and b

e. b and c

Problem 4: Employee welfare expenses are allocated on the basis of:

a. Labour hours

b. Number of employees

c. Machine hours

d. Prime cost

e. None of the above

Problem 5: Manufacturing costs consist of the following:

a. Prime cost + manufacturing overheads

b. Conversion cost + manufacturing overheads

c. Direct materials + direct labour + manufacturing overheads

d. a and c

e. a, b and c

Reference no: EM132618954

Questions Cloud

Make difference in resolving ethical dilemma : Should a short-term or long-term consequence make a difference in resolving an ethical dilemma? Discuss.
How you would address the situation in an ethical manner : Post a description of the steps you would take to address the situation in an ethical manner. Justify your response with evidence from the Readings.
Make entries regarding this transaction necessary : Required - Make entries regarding this transaction necessary in 2020 both at the time of sale AND at year-end. Show your calculations
Explain effective communication norms in business setting : Explain effective communication norms in a business setting. Describe both verbal and nonverbal management communication.
Find how much was total overhead under or over absorbed : Find How much was the total overhead under or over absorbed for the period? Total of indirect material, indirect labour and indirect expenses is called?
Calculate the balance of the provision for warranty : The provision for warranty has a credit balance of $145,000 at the beginning of 2019. Calculate the balance of the provision for warranty at December
Post a description of strengths associated with title : Post a description of strengths and challenges associated with title protection and licensure. Describe two strengths and two challenges.
What type of remuneration system is an organisation : Under what type of remuneration system is an organisation's budget simplified? Gross remuneration for hourly wages is calculated as
Case study on charles schwab : The context of the decision making processes, including for example: the goals, activities, history or culture of the organization;

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd