ACCT 349 week 1 quiz - Points Received 30 30(100 Question...

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Points Received: 30 / 30 (100%) Question Type: # Of Questions: # Correct: True/False 1 1 Multiple Choice 4 4 Grade Details - All Questions Question 1. Question : (TCO 10) In selecting a cost allocation base for variable overhead, what criteria for the base is preferred? Student Answer: Ease of acquiring reliable information for accurate allocations A cause-and-effect relationship between the cost and the activity level A single base that will simplify the allocation process One that has been used in the past
Instructor Explanation: See Chapter 8. Points Received: 6 of 6 Comments: Question 2. Questio n : (TCO 10) Sebastian Company, which manufactures electrical switches, uses a standard cost system and carries all inventories at standard. The standard manufacturing overhead costs per switch are based on direct labor hours and are shown below: Variable overhead (5 hours at $12 per direct manufacturing labor hour) Fixed overhead (5 hours at $15 per direct manufacturing labor hour, $ -723537310 MultipleChoice 2 True 0 -723537310 MultipleChoice 2
based on capacity of 200,000 direct manufacturing labor hours per month) Total overhead per switch $ 135 The following information is available for the month of December: 46,000 switches were produced, although 40,000 switches were scheduled to be produced. 225,000 direct manufacturing labor hours were worked at a total cost of $5,625,000. Variable manufacturing overhead costs were $2,750,000. Fixed manufacturing overhead costs were $3,050,000. The total variable manufacturing overhead variance was
Points Received: 6 of 6 Comments:

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