In a standard costing system a cost allocation base

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Chapter 25 / Exercise 10
Accounting Using Excel for Success
Reeve/Warren
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1) In a standard costing system, a cost-allocation base would most likely be: A) actual machine-hours B) normal machine-hours C) standard machine-hours D) Any of these answers is correct. Answer:
CDiff: 3Terms: standard costingObjective: 2AACSB: Reflective thinking2) For calculating the costs of products and services, a standard costing system:
DDiff: 3Terms: standard costingObjective: 2AACSB: Reflective thinking
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The document you are viewing contains questions related to this textbook.
Accounting Using Excel for Success
The document you are viewing contains questions related to this textbook.
Chapter 25 / Exercise 10
Accounting Using Excel for Success
Reeve/Warren
Expert Verified
3) Which of the following is NOT a step in developing budgeted variable overhead rates?
BDiff: 2Terms: variable overhead rateObjective: 2AACSB: Analytical skills4) Which of the following is NOT a step in developing budgeted fixed overhead rates?
D
Objective: 2AACSB: Analytical skills5) In flexible budgets, costs that remain the same regardless of the output levels within the relevant range are: A) allocated costs B) budgeted costs C) fixed costs D) variable costs Answer:
CDiff: 1Terms: total-overhead varianceObjective: 2AACSB: Reflective thinking
Answer the following questions using the information below: Willis Corporation manufactures industrial-sized gas furnaces and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data:Budgeted output units30,000 unitsBudgeted machine-hours10,000 hoursBudgeted variable manufacturing overhead costs for 15,000 units$322,500Actual output units produced44,000 unitsActual machine-hours used14,400 hoursActual variable manufacturing overhead costs$484,000

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