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Mini-Mid Exam 2 Review

Authored by Blake Steele

Mathematics

University

CCSS covered

Used 126+ times

Mini-Mid Exam 2 Review
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19 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for the Predetermined Overhead Rate (POH)?

Estimated Annual Overhead/Estimated Use of Cost Driver per Activity

Estimated Annual Overhead/Estimated Annual Operating Activity

Estimated Overhead per Activity/Estimated Annual Operating Activity

Estimated Overhead per Activity/Estimated Use of Cost Driver per Activity

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for applied overhead (using Job Order Costing)?

Applied Overhead = AB OH x Actual Operating Activity

Applied Overhead = POH x Actual Use of Cost Driver

Applied Overhead = POH x Actual Operating Activity

Applied Overhead = AB OH x Actual Use of Cost Driver

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for the Activity-Based Overhead Rate (AB OH)?

Estimated Annual Overhead/Estimated Use of Cost Driver per Activity

Estimated Annual Overhead/Estimated Annual Operating Activity

Estimated Overhead per Activity/Estimated Annual Operating Activity

Estimated Overhead per Activity/Estimated Use of Cost Driver per Activity

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for applied overhead (using Activity-Based Costing)?

Applied Overhead = AB OH x Actual Operating Activity

Applied Overhead = POH x Actual Use of Cost Driver

Applied Overhead = POH x Actual Operating Activity

Applied Overhead = AB OH x Actual Use of Cost Driver

Tags

CCSS.5.NBT.A.2

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for Gross Profit?

GP = Revenues + COGS

GP = Revenues - COGS

GP = Revenues - Expenses

GP = Revenues - COGM

Tags

CCSS.8.EE.C.7B

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is the equation for Total Manufacturing Costs?

TMC = Beg. FG + COGM - End. FG

TMC = DM - DL - MOH

TMC = Beg. WIP + COGM - End. WIP

TMC = DM + DL + MOH

Tags

CCSS.8.EE.C.7B

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Apply overhead given that POH is 0.26, actual labor hours is 70 hours, and estimated labor hours is 80 hours.

269.23

18.20

20.80

307.69

Tags

CCSS.7.RP.A.3

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