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tamaranim1 [39]
3 years ago
11

Which of the following statements about normal costing is not true? Group of answer choices Manufacturing overhead is allocated

using budgeted rate and actual cost allocation base used. Direct costs and indirect costs are traced using an actual rate. Direct costs are traced using an actual rate, and indirect costs are allocated using a budgeted rate. Manufacturing overhead is allocated using budgeted rate and budgeted cost allocation base. Direct costs and indirect costs are traced using budgeted rates. Direct costs are traced using a budgeted rate, and indirect costs are allocated using an actual rate.
Business
1 answer:
Katena32 [7]3 years ago
5 0

Answer:

Direct costs are traced using an actual rate, and indirect costs are allocated using a budgeted rate

Explanation:

Normal costing refers to the actual cost of direct materials, direct labor, and manufacturing overhead applied. This cost is calculated by using a predetermined annual overhead rate.

Direct costs are expenses involved in producing goods or providing services and indirect costs are general expenses that are involved in operating.

The statement about normal costing which is not true is ''Direct costs are traced using an actual rate, and indirect costs are allocated using a budgeted rate''

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Maricopa's Success scholarship fund receives a gift of $ 165000. The money is invested in stocks, bonds, and CDs. CDs pay 5.75 %
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Answer:

$ 65,000 were invested in stocks, $ 70,000 were invested in bonds, and $ 30,000 were invested in CDs.

Explanation:

Since Maricopa's Success scholarship fund receives a gift of $ 165000, and the money is invested in stocks, bonds, and CDs, and CDs pay 5.75% interest, bonds pay 5% interest, and stocks pay 6.8% interest, and Maricopa Success invests $ 40000 more in bonds than in CDs, if the annual income from the investments is $ 9645, to determine how much was invested in each account, the following calculation must be performed:

95,000 x 0.068 + 55,000 x 0.05 + 15,000 x 0.0575 = 10,072.5

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Rent-seeking is the effort to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through misallocation of resources, reduced wealth-creation, lost government revenue, heightened income inequality, and potential national decline

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