Quiz 2.1_Answer - QUIZ 2(1 Name 1(Q 13 Jun 2007 The...

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QUIZ 2 (1) Name: ………………………………………………. 1. (Q 13 – Jun 2007) The following may occur depending upon how overhead applied rates are set and used: (i) Delay in the establishment of job costs (ii) Change in unit costs reflecting seasonal activity (iii) Over or under applied overhead Which of the above may result from the use of predetermined rates set for a year rather than actual rates recalculated every month? A (i) only B (ii) only C (iii) only D None 2. A company had the budgeted and actual production overhead costs of £210,000 and £212,000, respectively. Which statement is true? A From the data available it is not possible to determine over/under applied overhead B O verhead was over-applied C Overhead was under-applied 3. (Q 10 – Jun 2005) An overhead applied rate of £12·00 per direct labor hour was established based on a budget of 2,100 hours. Actual direct labor hours worked was 2,180 and actual overhead expenditure was £25,470. What was the over/under applied overhead?
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This note was uploaded on 11/23/2011 for the course MANAGEMENT 101 taught by Professor Nguyen during the Spring '11 term at Troy.

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Quiz 2.1_Answer - QUIZ 2(1 Name 1(Q 13 Jun 2007 The...

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