Which the the following best describes cost allocation?A) A aspect that links in a systematic means an indirect cost or group of indirect prices to a cost object.B) The assigning the indirect price to the chosen price object.C) A group of individual cost items.D) The assigning of direct price to the chosen object.

You are watching: A company might use budgeted costs rather than actual costs to compute direct-labor rates because


How go a job-costing device differ from a process-costing system?A) A Job-costing device assigns expense to masses of comparable units; a process-costing system assigns price to distinctive units.B) A job-costing solution assigns expense to distinctive units; a process-costing assigns price to masses of similar units C) A process-costing device allocates indirect costs to commodities to product; a task costing mechanism does no allocate indirect price to productsD) A job-costing system allocates indirect expense to products; a process-costing system does no allocate indirect cost to products.
B) A job-costing systems assigns expense to unique units; a process-costing assigns cost to masses of similar units
Why might an advertising agency use job costing because that an advertising campaign by Pepsi, conversely, a bank might use process costing to recognize the cost of check account deposits?A) task costing have the right to be used to compute the cost of masses of similar services, in contrast procedure costing enables all the specific aspects of each job to be determined individually.B) an advertising agency provides the same company to all its clients, if a financial institution supplies its customers with dedicated services. For that factor an advertising agency would use job costing to screen the expense of an advertising campaign by Pepsi.C) whenever a product or organization is distinct or distinct, procedure costing is the many efficient means to assign cost. Thus since every banking transaction is unique, the banks use procedure costing to recognize the expense of checking account deposits.D) task costing allows all the specific aspects of each job to it is in identified, whereas process costing can be used to compute the price of countless identical or comparable services.
D) task costing enables all the specific aspects the each task to be identified, whereas procedure costing have the right to be provided to compute the cost of numerous identical or similar services.
Step 1: recognize the task that is the chosen price object.Step 2: recognize the direct cost of the job.Step 3: choose the cost-allocation bases to usage for allocation indirect expense to the job.Step 4: identify the indirect cost connected with each cost-allocation base.Step 5: Compute the price per unit of every cost-allocation base used to allocate indirect cost to the Job.Step 6: Compute the indirect cost allocated to the job.Step 7: Compute the full cost the the job by including all direct and also indirect price assigned come the job.
The two major cost objects that manger emphasis on in service providers using project costing areA) resolved cost and variable costs.B) cost pool and also cost assignment base.C) straight cost and indirect costs.D) commodities or jobs and responsibility centers or departments.
Identify three significant source records used in job-costing systems.A) accounts receivable aging report, accounts payable aging report,and inventory control reportB) genreal journal, basic ledger, and also trial balanceC) job price record (sheet), products requisition record, and labor time recordD) balance sheet, revenue statement, and cosh circulation statement
Identify the main concern about source documents supplied to prepare job-cost records.A) timeliness that the records- ensuring the the documents are available when neededB) accuracy that the records- incorrect recording of amounts, incorrect project numbers, materials being "borrowed" for another jobC) safeguarding the record from occasions such together theft or fireD) none of the above
B) accuracy that the records- incorrect record of amounts, incorrect job numbers, products being "borrowed" for one more job
Identify the reason(s) why most organizations use one annual duration rather 보다 a weekly or monthly duration to compute budgeted indirect-cost rates.A) The numerator reason- the much longer time period, the less influence of seasonal patterns.B) The denominator reason- the much longer the time period, the much less the impact of sport in output levels on the assignment of resolved cost.C) no A or B.D) Both A and also B.
Distinguish in between actual costing and also normal costing.A) really costing and normal costing different in their use of really or budgeted indirect-cost rates.B) actual costing and normal costing different in their use of actual or budgeted direct-cost rate.C) actual costing and also normal costing different in their use of actual or budgeted amounts of direct-cost inputsD) really costing and also normal costing different in their usage of yes, really or budgeted quantities of expense allocation bases.
Identify the ways in i m sorry a residence construction company may usage job-cost information.A) (a) to recognize the profitability of individual jobs, (b) to aid in bidding top top future jobs, and (c) to evaluate experts are in fee of managing individual jobsB) (a) to division the total cost of building all the homes by the total number of houses developed to attain an average expense of house, and also (b) come apple the typical per-unit expense to each of the the same or similar houses built in the period.C) (a) come report profit results to shareholders, and (b) to report taxable profits to taxation authoritiesD) nobody of the above.
A) (a) to recognize the benefit of individual jobs, (b) to assist in bidding top top future jobs, and (c) to evaluate specialists are in charge of controlling individual jobs
Determine even if it is this declare is true or false. "In a normal-costing system, the amounts in the manufacturing Overhead Allocated account will constantly equal the lot in the production Overhead Allocated account"A) The declare is true.B) the statement is false.
Identify three various debit entries come the Work-in-Process regulate T-account under normal costing.A) straight materials use, direct manufacturing labor billed to a job, production overhead allocated come a jobB) direct materials purchased, manufacturing overhead incurred, completion and also transfer of jobs to perfect goodsC) straight materials purchased, indirect production labor payment to employees, production overhead incurredD) straight materials purchased, completion and transfer of work finished good, revenue of perfect goods
A) straight materials use, straight manufacturing labor billed to a job, manufacturing overhead allocated come a job
Identify the ideal way(s) come dispose the under-or end allocated overhead costs. A) (1) Proration to materials inventory, finished goods and also cost of an excellent sold, (2) Yea-end write-off to job-related in process inventory, (3) Restatement of all overhead entries using budgeted indirect expense rates fairly than actual indirect cost.B) (1) Proration to all operating cost accounts, (2) Year-end write-off to assorted expense, (3) Restatement of every overhead entries making use of budgeted indirect cost rates quite than yes, really indirect cost.C) (1) Proration to work-related in process, perfect goods and also cost of goods sold, (2) Year-end write-off to price of products sold, (3) Restatement of every overhead entries utilizing actual indirect price rates fairly than budgeted indirect cost rates.D) No entry is forced to dispose of end or under-under-allocated overhead.
C) (1) Proration to occupational in process, finished goods and also cost of products sold, (2) Year-end write-off to cost of products sold, (3) Restatement of every overhead entries utilizing actual indirect price rates rather than budgeted indirect price rates.
A firm might usage budgeted price rather than actual cost to compute direct-labor rates becauseA) the budgeted price will result in reduced corporate revenue taxes.B) the budgeted price are an ext accurate C) the budgeted price will an outcome in a higher gross margin.D) it might be daunting to trace straight labor price to jobs as they space completed.
Modern modern technology such as digital Data Interchange (EDI) is beneficial to manages becauseA) it lowers manufacturing B) it boosts product top quality C) it boosts manufacturing productivityD) it gives them through quick and also accurate product-cost info that facilitates the management and also control of jobs.

See more: A Numerical Measure, Such As A Mean, Computed From A Population Is Known As A


D) it gives them with quick and also accurate product-cost information that facilitates the management and also control the jobs.
})}else;window.location.assign("https://urbanbreathnyc.com/explanations/textbook-solutions/financial-accounting-4th-edition-9781259730948");">

})}else;window.location.assign("https://urbanbreathnyc.com/explanations/textbook-solutions/the-economics-of-money-banking-and-financial-markets-11th-edition-9780133836790");">
*

})}else;window.location.assign("https://urbanbreathnyc.com/explanations/textbook-solutions/financial-accounting-5th-edition-9781260502978");">
*

})}else;window.location.assign("https://urbanbreathnyc.com/explanations/textbook-solutions/myaccountinglab-for-financial-accounting-9th-edition-9780132753708");">
*

MyAccountingLab for Financial Accounting9th EditionCharles T. Horngren
971 explanations
Sets found in the exact same folder
window.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACCT 401 Ch 4","id":"281833110","price":"","category":"premium content","variant":"study guide","position":"","brand":"Lilyjdear">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;})}elsewindow.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACCT 401 Ch 4","id":"281833110","price":"","category":"premium content","variant":"study guide","position":"","brand":"Lilyjdear">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;;window.location.assign("https://urbanbreathnyc.com/au/281833110/acct-401-ch-4-flash-cards/");" id="1-281833110">
ACCT 401 Ch 4
34 terms
Lilyjdear
window.urbanbreathnyc.com<"productClickLinkData"> = <"name":"CH 10 (pearson)","id":"70246116","price":"","category":"premium content","variant":"study guide","position":"","brand":"Erik_Brown2">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;})}elsewindow.urbanbreathnyc.com<"productClickLinkData"> = <"name":"CH 10 (pearson)","id":"70246116","price":"","category":"premium content","variant":"study guide","position":"","brand":"Erik_Brown2">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;;window.location.assign("https://urbanbreathnyc.com/70246116/ch-10-pearson-flash-cards/");" id="1-70246116">
CH 10 (pearson)
15 terms
Erik_Brown2
window.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACCT 331 thing 4","id":"150521941","price":"","category":"premium content","variant":"study guide","position":"","brand":"ebball5">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;})}elsewindow.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACCT 331 thing 4","id":"150521941","price":"","category":"premium content","variant":"study guide","position":"","brand":"ebball5">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;;window.location.assign("https://urbanbreathnyc.com/150521941/acct-331-chapter-4-flash-cards/");" id="1-150521941">
ACCT 331 thing 4
42 terms
ebball5
window.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACT 317 - exam #1 Review","id":"268164554","price":"","category":"premium content","variant":"study guide","position":"","brand":"li_tessie">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;})}elsewindow.urbanbreathnyc.com<"productClickLinkData"> = <"name":"ACT 317 - exam #1 Review","id":"268164554","price":"","category":"premium content","variant":"study guide","position":"","brand":"li_tessie">; QLoad("urbanbreathnyc.com.productClickLinkData"); return;;window.location.assign("https://urbanbreathnyc.com/268164554/act-317-exam-1-review-flash-cards/");" id="1-268164554">