Business: Regression analysis assessment: 1. Under-applied overhead occurs when the balance in the Manufacturing Overhead Control account is:
greater than the balance in the Applied Manufacturing Overhead account.
equal to the balance in the Applied Manufacturing Overhead account.
less than the balance in the Applied Manufacturing Overhead account.
less than the balance in the Finished Goods Inventory account.
2. Which of the following companies would most likely use job costing?
Breakfast cereal maker
3. If a company multiplies its predetermined overhead rate by the budgeted allocation base, it is using:
4. Before prorating the manufacturing overhead costs at the end of 2008, the Cost of Goods Sold and Finished Goods Inventory had applied overhead costs of $57,500 and $20,000 , respectively. There was no Work-in-Process at the beginning or end of 2008. During the year, manufacturing overhead costs of $74,000 were actually incurred. The balance in the Applied Manufacturing Overhead was $77,500 at the end of 2008. If the under or overapplied overhead is prorated between Cost of Goods Sold and the inventory accounts, how much will be allocated to the Finished Goods Inventory?
5. Operations costing systems are used when the products have:
used a standardized method that is repeatedly performed.
common characteristics and no individual characteristics.
individual characteristics and no common characteristics.
some common characteristics and some individual characteristics.
6. The ALG Manufacturing Company has gathered the following information for the month of September:
•There were 6,000 units in the beginning Work-in-Process Inventory (75% complete as to materials, 1/3 complete with respect to the conversion costs).
•60,000 units were started into production.
•50,000 units were completed and transferred to the next department.
•The ending Work-in-Process Inventory is complete as to materials, but only 3/8 complete with respect to conversion costs.
What are the equivalent units of production (EUP) for the conversion costs in the month of September, assuming ALG uses weighted-average process costing?
7. Department B had a beginning inventory of 400 units, 1/4 completed; an ending inventory of 300 units, 2/3 completed; and received 900 units from Department A during the period. What was the equivalent unit production of Department B, assuming weighted-average process costing was used?
8. RS Company manufactures and distributes two products, R and S. Currently, overhead costs are allocated using the number of units produced as the allocation base. The controller has recommended changing to an activity-based costing (ABC) system. She has collected the following information:
What is the total overhead per unit allocated to Product S using activity-based costing (ABC)?
9. The Muskego National Bank is considering either a bankwide overhead rate or department overhead rates to allocate $250,000 of indirect costs. The bankwide rate could be based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for consumer loans and a dual rate based on direct labor hours and the number of loans processed for commercial loans. The following information was gathered for the upcoming period:
If Muskego uses a bankwide rate based on the number of loans processed, what would be the total costs for the commercial department?
10. In general, the first budget prepared is the:
direct labor budget.
11. The forecasting method in which individual forecasts of group members are submitted anonymously and evaluated by the group as a whole is called:
the delphi technique.
12. The amount of materials to be purchased during the budget period is equal to the budgeted:
total production needs plus the units in the beginning materials inventory minus the units in the ending materials inventory.
total production needs plus the units in the ending materials inventory minus the units in the beginning materials inventory.
units to be produced plus the units in the beginning materials inventory minus the units in the ending materials inventory.
units to be produced plus the units in the ending materials inventory minus the units in the beginning materials inventory.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Australia Assessments has gained an international reputation of being the leading website in custom assignment writing services. Once you give us the instructions of your paper through the order form, we will complete the rest.
As we work towards providing the best custom assignment services, our company provides assignment services for any type of academic essay. We will help you develop professionally written essays that are rich in content and free from plagiarism.
Admission and Business Papers
Our skilled team of professional writers will ensure that we help you craft a remarkable admission essay for your desired Master's program in your institution of choice. We won't stop there. Once you enter the job market, we will be available to secure you a position at your desired worksite by creating an outstanding portfolio or resume.
Editing and Proofreading
Our editorial team is always available for all editing and proofreading services. They check completed papers by our writers and also provide professional opinions to papers completed by our clients.
We harbor professional academic writers with different qualifications in diverse academic fields. As such, we are capable of handling both simple and technical papers. Ensure that you provide us with correct and complete instructions in the order form.