Answer:
Which of the following statements is false?
a. Actual overhead costs always enter the Work-in-Process account.
Explanation:
a. Actual overhead costs always enter the Work-in-Process account.
A normal job-order costing system is a system that uses: Actual costs for direct materials and direct labor and estimated costs for overhead. Actual overhead costs are not assigned directly to jobs
b. The use of normal costing means that overhead is applied to each job using a predetermined rate.
The cost of a job includes direct materials, direct labor, and applied overhead. The use of normal costing means that overhead is applied to each job using a predetermined rate.
c. Indirect labor is assigned as a part of overhead.
Since direct materials and direct labor are usually considered to be the only costs that directly apply to a unit of production, manufacturing overhead is (by default) all of the indirect costs of a factory. Manufacturing overhead does not include any of the selling or administrative functions of a business
Answer:
See below
Explanation:
A. Predetermined overhead
First, we all calculate total overhead cost at the denominator level
Total overhead cost = total fixed overhead + total variable overhead
= $250,000 + (40,000 × $2)
= $250,000 + $80,000
= $330,000
Predetermined overhead rate = Total overhead cost at the denominator level / Budgeted standard direct labor hour
= $330,000 / 40,000
= $8.25
B. Overhead applied
= Standard direct labor hour allowed for actual output × Predetermined overhead rate
= 38,000 × $8.25
= $313,500
Answer: strategies regarding product, price, place, and promotion.
Explanation:
The marketing mix of a business are those parameters that a business can adjust in order for the business to have the desired sales in a market. The marketing mix can easily be influenced by the business and it involves the; product to be sold, price at which product is sold, location of sales and promotions.
Answer:
A) True
Explanation:
Partitioning the internal rate of return (IRR) means dividing the returns from; cash flows from annual operating vs. cash flows from the resale of the investment.
The greater the proportion of resale cash flow, the greater the risk for the investor. The more return the investor gets from annual operating cash flows, the better.
Answer:
posting
Explanation:
this is following the principle of double entry which states that for every debit entry there must be a corresponding credit entry and vice versa.
