Questions from Cost Accounting

Q: What are the two types of budget data needed to compute predetermined

What are the two types of budget data needed to compute predetermined overhead rates?

Q: What are three methods traditionally used for applying factory overhead to jobs

What are three methods traditionally used for applying factory overhead to jobs? Discuss the allocation base used in each method.

Q: What factory operating conditions and data are required for each of the

What factory operating conditions and data are required for each of the traditionally used methods for applying factory overhead to products? Discuss the strengths and weaknesses of each method.

Q: After a product is inspected, some units may be classified as

After a product is inspected, some units may be classified as spoiled and others as defective. What distinguishes a product as being spoiled or defective?

Q: Under what conditions would it be desirable for a company to use

Under what conditions would it be desirable for a company to use more than one method to apply factory overhead to jobs or products?

Q: How does activity-based costing differ from traditional methods of applying

How does activity-based costing differ from traditional methods of applying overhead to products?

Q: What steps must a company take to successfully employ activity-based

What steps must a company take to successfully employ activity-based costing?

Q: The factory payroll for the week is $200,000,

The factory payroll for the week is $200,000, consisting of $140,000 earned by 100 direct laborers and $60,000 earned by 30 indirect laborers. The total of factory bonuses to be received at year-end i...

Q: Distinguish between volume-related and non-volume-related overhead

Distinguish between volume-related and non-volume-related overhead costs.

Q: If the factory overhead control account has a debit balance of $

If the factory overhead control account has a debit balance of $1,000 at the end of the first month of the fiscal year, has the overhead been under- or overapplied for the month? What are some probabl...