What are the total overheads for production cost centre G after the reapportionment of all
service cost centre costs?
MA- Accounting For Overheads
Quiz
•
Professional Development
•
1st Grade
•
Hard
PFC Education
Used 3+ times
FREE Resource
14 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 2 pts
What are the total overheads for production cost centre G after the reapportionment of all
service cost centre costs?
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
What is an overhead absorption rate used for?
share out common costs over benefiting cost centres
find the total overheads for a cost centre
charge overheads to products
control overheads
3.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
After the reapportionment of service cost centre costs has been carried out using a method
that fully recognises the reciprocal service arrangements in the factory, what is the total
overhead for production cost centre P?
$122,400
$124,716
$126,000
$127,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A cost centre has an overhead absorption rate of $4.25 per machine hour, based on a
budgeted activity level of 12,400 machine hours.
In the period covered by the budget, actual machine hours worked were 2% more than the
budgeted hours and the actual overhead expenditure incurred in the cost centre was
$56,389.
What was the total over or under absorption of overheads in the cost centre for the period?
$1,054 over
$2,635 under absorbed
$3,689 over
$3,689 under absorbed
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which of the following situations would cause overheads to be over-absorbed?
when absorbed overheads exceed actual overheads
when absorbed overheads exceed budgeted overheads
when actual overheads exceed budgeted overheads
when budgeted overheads exceed absorbed overheads
6.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
The management accountant's report shows that fixed production overheads were over-
absorbed in the last accounting period.
What is the combination that is certain to lead to this situation?
production volume is lower than budget and actual expenditure is higher than budget
production volume is higher than budget and actual expenditure is higher than budget
production volume and actual cost are as budgeted
production volume is higher than budget and actual expenditure is lower than budget
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
What would the accounting entries be for $10,000 of over-absorbed overheads?
Dr
Work-in-progress control account Cr Overhead control account
Dr Statement of profit or loss
Cr Work-in-progress control account
Dr Statement of profit or loss
Cr Overhead control account
Dr Overhead control account
Cr Statement Of profit or loss
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