Accounting MCQs

1590 MCQs (Page 73 of 159)

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If the budgeted annual indirect cost is $60000, budgeted annual quantity of cost allocation base is $3600, then budgeted indirect cost rate will be __________?

A. 15.67 per piece
B. 16.67 per piece
C. 14.67 per piece
D. 13.67 per piece

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A document which contains information about the materials of specific product, in specific department comes under __________?

A. Costing method
B. Selling method
C. Material acquisition method
D. None of above

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The budgeted total direct labor cost is divided with budgeted total direct labor, to calculate ___________?

A. Budgeted indirect labor cost rate
B. Expected direct labor cost rate
C. Budgeted direct labor cost rate
D. Expected indirect labor cost rate

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The budgeted direct labor hours are multiplied to direct labor cost rate, to calculate ____________?

A. Expected total direct labor cost
B. Budgeted total direct labor cost
C. Budgeted total indirect labor cost
D. Expected labor hours

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The budgeted annual indirect costs are divided to budgeted annual quantity of cost allocation base, to calculate ___________?

A. Expected indirect cost rate
B. Expected direct cost rate
C. Budgeted indirect cost rate
D. Budgeted direct cost rate

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If an allocated indirect cost is $1500 and the actual incurred indirect cost is $1200, then this is classified as __________?

A. Applied indirect cost
B. Applied direct cost
C. Incurred indirect cost
D. Over allocated indirect cost

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Total cost of producing similar products divided by number of units produced is a technique known as ____________?

A. Sale costing system
B. Job costing system
C. Price costing system
D. Process costing system

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The spread of over allocated overhead and under allocated overhead among work in process, finished goods and goods sold cost is classified as __________?

A. Proration approach
B. Appreciation approach
C. Depreciation approach
D. Adjusted approach

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If an actual indirect cost incurred is $25000 and the indirect cost allocated is $23000, then the over allocated indirect cost would be ________?

A. $48,000
B. −$2000
C. $2,000
D. −$48000

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In an accounting system, the document which supports journal entries is classified as _____________?

A. Cost document
B. Priced document
C. Source document
D. Direct document

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