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14 Cards in this Set
- Front
- Back
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cost allocation is the assignment of |
indirect costs to one or more products using a reasonable basis |
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in an actual cost system, how is overhead assigned? |
at the end of the manufacturing process |
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in a normal cost system what is used? |
actual direct materials and actual direct labor |
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predetermined overhead rates are computed based on |
estimated overhead costs and estimated level of activity |
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in the formula y=a + bx, y represents |
total cost |
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in the formula y=a + bx, a represents |
fixed cost |
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if the level of activity increases |
total cost will increase and fixed cost per unit will decrease |
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if there is no "a" value in a linear cost equation, this is an indication that the cost is |
variable |
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an outlier is |
typically not used in analyzing a mixed cost |
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applied overhead consists of |
actual activity times predetermined overhead rate |
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if a company used two overhead accounts (actual overhead and applied overhead) the one that would receive the most debits would be |
actual overhead |
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if underapplied overhead is considered to be immaterial, it is closed to which accounts |
cost of goods sold |
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overapplied overhead will result if |
overhead costs incurred were less than overhead costs charged to production |
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stopped at 21 |
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