MA- Accounting For Overheads

MA- Accounting For Overheads

1st Grade

14 Qs

quiz-placeholder

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MA- Accounting For Overheads

MA- Accounting For Overheads

Assessment

Quiz

Professional Development

1st Grade

Hard

Created by

PFC Education

Used 3+ times

FREE Resource

14 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 2 pts

Media Image

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

Media Image

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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