A debit balance in overhead control implies that actual overhead costs exceed overhead applied.
1. A debit balance in overhead control implies that actual overhead costs exceed overhead applied.
Answer:
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Answer:
true po yan
Explanation:
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2. In a job-order costing system that is based on machine-hours, which of the following formulas is correct?A) Predetermined overhead rate = Actual manufacturing overhead ÷ Actual machine-hoursB) Predetermined overhead rate = Actual manufacturing overhead ÷ Estimated machine-hoursC) Predetermined overhead rate = Estimated manufacturing overhead ÷ Estimated machine-hoursD) Predetermined overhead rate = Estimated manufacturing overhead ÷ Actual machine-hours
Job Order Costing System Formula
A costing technique used to estimate each product's manufacturing costs is called job order costing. When a manufacturer creates a range of unique goods and has to determine the cost of performing each task individually, they typically use this costing method. The direct labor, direct materials, and manufacturing overhead for a given project are all included in the job cost.
Formula:Predetermined overhead rate = Estimated manufacturing overhead ÷ Estimated machine-hours
Supporting details:
Job order costing examples
a business that creates and sells specialized equipment or machine toolinga business that builds structures with bespoke designsa business that adapts trucks to fulfill the unique needs of consumersIn order to calculate the profit for each unique job being manufactured, job order costing is used to compare the revenue received with the costs incurred during the production process.
A system for allocating and aggregating the production costs of a single unit of output is known as work order costing or job costing. When the multiple things produced are sufficiently distinct from one another and each has a sizable cost, the task order costing approach is employed.
Job Order System of Cost Accounting:
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3. A debit balance in overhead control implies that actual overhead costs exceed overhead applied. a. True b. False
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[tex]\large\rm\underline{ANSWER:}[/tex]
A debit balance in overhead control implies that actual overhead costs exceed overhead applied.
[tex]\large⟼[/tex] a. True
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#[tex]\sf\color{salmon}{C}arry\sf\color{salmon}{O}n\sf\color{salmon}{L}earning[/tex]
4. what is overhead projector
Answer:
a device that projects an enlarged image of a transparency placed on it onto a wall or screen by means of an overhead mirror.
Explanation:
5. 1. How do you make a weave bead in the overhead arc welding overhead
Answer:
helo po sana makatulong
6. use overhead in a sentence
He passed the ball overhead
7. Chan Company estimates that annual manufacturing overhead costs will be $500,000. Chan allocates overhead to jobs based on machine hours, and it expects that 100,000 machine hours will be required for the year. Calculate the predetermined overhead rate.
Answer
50,000,000,000
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8. objectiveness overhead hsj
Thank you for thy points
Answer:
Overhead includes the fixed, variable, or semi-variable expenses that are not directly involved with a company's product or service. Examples of overhead include rent, administrative costs, or employee salaries. Overhead expenses can be found on a company's income statement, where they are subtracted from its income to arrive at the net income figure. Analyzing overhead is critical to showing the profitability of a company.
Explanation:
9. 9. Overhead press is an exercise for the ..??
Answer:
deltoidsExplanation:
Sana makatulong
Answer:
Overhead press is an exercise for the
strength and size of the shoulder muscles.strength and size of the shoulder muscles. strength and size of the triceps muscles. strength and size of the trapezius muscle.10. 30 What stroke is executed by the player in the picture? A underarm forehand B overhead forehand C overhead backhand
Answer:
A po
Explanation:
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11. the process of assigning overhead cost to jobs is known as overhead application true or false
Answer:
true
Explanation:
12. Overhead projector reason
Answer:
The definition of an overhead projector is a machine that causes an image from a transparent sheet to be projected onto a viewing screen.
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13. The fixed-overhead volume variance under variable costing: must be unfavorable. must be unfavorable. will equal the fixed-overhead budget variance. will equal the fixed-overhead budget variance. is deducted on the income statement. is deducted on the income statement. does not exist. does not exist. coincides with the fixed manufacturing overhead that was applied to production.
Answer:
Terms in this set (93)
A
Under variable costing, fixed manufacturing overhead is:
A. expensed immediately when incurred.
B. never expensed.
C. applied directly to Finished-Goods Inventory.
D. applied directly to Work-in-Process Inventory.
E. treated in the same manner as variable manufacturing overhead.
D
All of the following are inventoried under variable costing except:
A. direct materials.
B. direct labor.
C. variable manufacturing overhead.
D. fixed manufacturing overhead.
E. items "C" and "D" above.
A
All of the following are expensed under variable costing except:
A. variable manufacturing overhead.
B. fixed manufacturing overhead.
C. variable selling and administrative costs.
D. fixed selling and administrative costs.
E. items "C" and "D" above.
E
All of the following costs are inventoried under absorption costing except:
A. direct materials.
B. direct labor.
C. variable manufacturing overhead.
D. fixed manufacturing overhead.
E. fixed administrative salaries.
D
All of the following are inventoried under absorption costing except:
A. direct labor.
B. raw materials used in production.
C. utilities cost consumed in manufacturing.
D. sales commissions.
C
The underlying difference between absorption costing and variable costing lies in the treatment of:
A. direct labor.
B. variable manufacturing overhead.
C. fixed manufacturing overhead.
D. variable selling and administrative expenses.
E. fixed selling and administrative expenses.
E
Which of the following costs would be treated differently under absorption costing and variable costing?
Direct Labor
Variable MOH
Fixed Administrative Expenses
A. Yes No Yes
B. Yes Yes Yes
C. No Yes No
D. No No Yes
E. No No No
E
Consider the following comments about absorption- and variable-costing income statements:
I. A variable-costing income statement discloses a firm's contribution margin.
II. Cost of goods sold on an absorption-costing income statement includes fixed costs.
III. The amount of variable selling and administrative cost is the same on absorption- and variable-costing income statements.
Which of the above statements is (are) true?
A. I only.
B. II only.
C. I and II.
D. II and III.
E. I, II, and III.
B
Income reported under absorption costing and variable costing is:
A. always the same.
B. typically different.
C. always higher under absorption costing.
D. always higher under variable costing.
E. always the same or higher under absorption costing.
B
Gomez's inventory increased during the year. On the basis of this information, income reported under absorption costing:
A. will be the same as that reported under variable costing.
B. will be higher than that reported under variable costing.
C. will be lower than that reported under variable costing.
D. will differ from that reported under variable costing, the direction of which cannot be determined from the information given.
E. will be less than that reported in the previous period.
A
Which of the following conditions would cause absorption-costing net income to be lower than variable-costing net income?
A. Units sold exceeded units produced.
B. Units sold equaled units produced.
C. Units sold were less than units produced.
D. Sales prices decreased.
E. Selling expenses increased.
A
Which of the following situations would cause variable-costing net income to be lower than absorption-costing net income?
A. Units sold equaled 39,000 and units produced equaled 42,000.
B. Units sold and units produced were both 42,000.
C. Units sold equaled 55,000 and units produced equaled 49,000.
D. Sales prices decreased by $7 per unit during the accounting period.
E.Selling expenses increased by 10% during the accounting period
D
Consider the following statements about absorption- and variable-costing net income:
I. Yearly income reported under absorption costing will differ from income reported under variable costing if production and sales volumes differ.
II. Long-run, total income reported under absorption costing will often be close to that reported under variable costing.
III. Differences in income under absorption and variable costing can often be reconciled by multiplying the change in inventory (in units) by the variable manufacturing overhead cost per unit.
Which of the above statements is (are) true?
A. I only.
B. II only.
C. III only.
D. I and II.
E. II and III.
C
Which of the following formulas can often reconcile the difference between absorption- and variable-costing net income?
A. Change in inventory units x predetermined variable-overhead rate per unit.
B. Change in inventory units ÷ predetermined variable-overhead rate per unit.
C. Change in inventory units x predetermined fixed-overhead rate per unit.
D. Change in inventory units ÷ predetermined fixed-overhead rate per unit.
E. (Absorption-costing net income - variable-costing net income) x fixed-overhead rate per unit.
E
Consider the
Answer:The difference between the actual fixed overhead expense incurred and the budgeted fixed overhead expense.
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14. what is the overhead?
Answer:
In business, overhead or overhead expense refers to an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular revenue unit, unlike operating expenses such as raw material and labor
Explanation:
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Answer:overhead expense refers to an ongoing expense of operating a business. Overheads are the expenditure which cannot be conveniently traced to or identified with any particular revenue unit, unlike operating expenses such as raw material and labor.
#LETSLEARN15. Matrix uses one factory overhead control account and charges factory overhead
Answer:
The “WIP” account is debited (increased) by direct materials used in production, direct labor involved in production, and by the amount calculated for MOH. When an asset goes through all the stages of the production process, it becomes a finished good that can be sold.
16. If a company applies overhead to jobs on the basis of a predetermined overhead rate, a debit balance in the manufacturing overhead account at the end of any period means that
Answer:
A.Head,tail
B.1,2,3,4,5,6
C.Rolling an odd numbet
D.Guessing the number of marbles in a jar
17. The hump any operated at 80% of capacity during the year but applied factory overhead based on the 90% capacitylevel assuming the actual factory overhead was equal to the budgeted amount for the attained capacity the amount of overhead variance for the year is
Answer:
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18. Once the amounts of the service department allocations have been determined, a journal entry should be prepared to record the distributions, the result of which is: a.debit balances in the factory overhead accounts of the service departments for which the total agrees to the total amount of factory overhead incurred. b.credit balances in the factory overhead accounts of the service departments for which the total agrees to the total amount of factory overhead incurred. c.debit balances in the factory overhead accounts of the production departments for which the total agrees to the total amount of factory overhead incurred. d.credit balances in the factory overhead accounts of the production departments for which the total agrees to the total amount of factory overhead amount.
The Lucas Manufacturing Company has two production departments (fabrication and assembly) and three service departments (general factory administration, factory maintenance, and factory cafeteria). A summary of costs and other data for each department, prior to allocation of service department costs for the year ended June 30, appears below:
The costs of the general factory administration department, factory maintenance department, and factory cafeteria are allocated on the basis of direct labor hours, square footage occupied, and number of employees,
19. Overapplied or underapplied overhead should be removed from the factory overhead account at the end of each accounting period.
Answer:
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Explanation:
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20. what is overhead fixture
Answer:
That is my answer good day
21. Describe the Overhead Irrigation
Answer:
-Overhead irrigation means the use of equipment and devices which deliver water under pressure, through the air, above the level of the plant being irrigated.
Answer:
an overhead irrigation is a lot like a lawn sprinkler the basic principle is the same water is pumped in under pressure and sprayed doen onto the plants from the flat spray nozzles
Explanation:
22. Reyes corporation applies overhead using a normal costing approach based upon machine-hours. budgeted factory overhead was p235,942, budgeted machine-hours were 17,740. actual factory overhead was p229,030, actual machine-hours were 16,390. how much is the over or (underapplied) (put minus if underapplied) overhead
Answer:
Reyes corporation applies overhead using a normal costing approach based upon machine-hours. budgeted factory overhead was p235,942, budgeted machine-hours were 17,740. actual factory overhead was p229,030, actual machine-hours were 16,390. how much is the over or (underapplied) (put minus if underapplied) overhead
23. Overhead cost is applied to jobs by multiplying the estimated allocation base by the predetermined overhead rate
Answer:
sorry Po di ako mag answer eh
Explanation:
nyt Po nyt nyt hehe
24. Brownfield company applies factory overhead on the basis of direct labor hours. budget and actual data for direct labor and overhead for the year are as follows: budget actual direct labor hours 600,000 550,000 factory overhead costs $720,000 $640,000 the factory overhead for brownfield for the year is:
Explanation:
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25. What is overhead in tagalog
TAGALOG NG "OVERHEAD"
❶ Lagpas sa taas ng ulo
o
❷ Gugol sa pangangasiwa ng negosyo
--COLLINSDAX "at your service"
Gugol sa pangangasiwa s negosyo
26. The manufacturing overhead account shows debits of 20,000; 24,000; and 28,000 and one credit for 76,000. based on this information, manufacturing overhead
Answer:
4,000
Explanation:
20,000 + 24,000 + 28, 000 = 72,000
76, 000 - 72, 000 = 4,000
27. purpose of livewire overhead
Answer:
Post a “Danger Live Wire Overhead" wall sign in areas with exposed live wires to inform all employees and visitors about the potentially hazardous overhead wiring. ...
Answer:
Live wires can pose a very real threat to safety. Post a “Danger Live Wire Overhead" wall sign in areas with exposed live wires to inform all employees and visitors about the potentially hazardous overhead wiring.
Explanation:
28. WHAT IS OVERHEAD AND DISTRIBUTION
Answer:
Selling and distribution overheads are the costs associated with selling and distributing your product or service. This can include marketing, advertising, sales commissions, shipping, and more.[tex]\huge\green{\tt{Answer:}}[/tex]
Selling and distribution overheads are the costs associated with selling and distributing your product or service. This can include marketing, advertising, sales commissions, shipping, and more.
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29. Cahin corporation applies manufacturing overhead on the basis of machine-hours. at the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $21,060. actual manufacturing overhead for the year amounted to $13,000 and actual machine-hours were 1,380. the company's predetermined overhead rate for the year was $16.20 per machine-hour.
Answer:
Total Variance (net) = 8,060 Favorable
Please refer to the attached image of the computation I did in Excel for better understanding.
For further financial accounting (or even cost/management) accounting, statistics, taxation or economic questions, I do offer commission-type services. Let me know how I can help by sending me a message. Thank you. :)
30. what are the overhead expenditures?
Answer:
There are three types of overhead: fixed costs, variable costs, or semi-variable costs
