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Manufacturing Overhead Quiz 1 (25 MCQs)

Quiz Instructions:

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1. A company that makes which of the following types of products would best be suited for a job costing system?
2. What is the formula for POR?
3. If overhead was over-applied,
4. Which of the company that might not apply job order costing?
5. What is manufacturing overhead?
6. What is formula for Applied Manufacturing Overhead
7. A major purpose of cost accounting is to..
8. Freight-out affects-
9. Prime costs are made up of-
10. A source document that production managers use to request materials for production and that is used to assign materials costs to specific jobs or to overhead is a:
11. What are the adjustments for under applied overhead?
12. Which characteristic is the same in both job order costing systems and process costing systems?
13. When too much overhead cost is charged to products as they are made, the result is?
14. In accumulating raw materials costs, companies add the cost of raw materials purchased in a perpetual system to:
15. Which element will be credited in the manufacturing overhead cost account?
16. Bad debts are considered to be a-
17. Which basis uses percentage to determine POR?
18. Which of the following is true about cost accounting?
19. Overhead can be classified as follows, EXCEPT _____
20. Which basis uses RM per basis to determine POR?
21. The target cost for a job using job order costing is calculated as:
22. Which of the following is the first step in developing an Overhead Absorption Rate (OHAR)?
23. The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as:
24. What is Overhead?
25. What items of expenditure go together to make up the PRIME COST?
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