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WorksheetsQUIZ 1 : TOPIC 5 [MANUFACTURING OVERHEAD]
Total questions: 20
Worksheet time: 18mins
Manufacturing overhead is the ______________
Overhead that incurred during production in a certain period of time
Overhead incurred by manufacturer
All manufacturing cost other than Direct Material and Direct Labour cost
Cost of product will be constant at a certain period
Factory insurance is component of a (n) ______________
Overhead costs
Prime costs
Administrative costs
Operating expenses
The overhead costs can be classified as follows, EXCEPT...
Manufacturing cost
Prime Costs
Indirect cost
Conversion cost
Only direct manufacturing costs are assigned to inventories and cost of goods sold.
True
False
Which of the following are considered as a component of product cost, except :
Property taxes on factory building
Direct materials
Indirect labor
Advertising
In actual costing system ; total product cost taking into account are the actual cost of direct materials used, the actual cost of direct labour and the actual cost of manufacturing overhead incurred.
TRUE
FALSE
In normal costing syatem ; total product cost taking into account are the actual cost of direct materials used, the actual cost of direct labour incurred and the cost of manufacturing overhead applied.
TRUE
FALSE
Applied overhead concept refer to a (n) ________________
amount of direct manufacturing cost actually involved in certain period of time
plan manufacturing overhead cost
budgeted manufacturing cost, because actual overhead cost is still unknown
estimated overhead based on actual activity level
Actual overhead is a (an) ________________
amount of overhead costs Usually made by management based on the past experience
Overhead that incurred during production in a certain period of time
amount of overhead that is estimated before the production started
estimated amount of overhead based on actual activity
Budgeted overhead is a (an) ______________
estimated amount of manufacturing overhead before the production started, because the actual overhead are still unknown
amount of overhead there will be over or under applied
estimated amount of overhead based on actual activity level
actual amount of manufacturing overhead incurred in the production
Determine the components of Product cost in the actual costing system :
Actual Direct Material + Actual Direct Labour + Applied Manufacturing Overhead
Actual Direct Material + Actual Direct Labour + Standard Manufacturing Overhead
Actual Direct Material + Actual Direct Labour + Actual Manufacturing Overhead
Standard Direct Material + Standard Direct Labour + Standard Manufacturing Overhead
The advantage of normal costing compared to actual costing is
The cost determined is more accurate
Cost of product will be various at a certain period
Normal costing is more appropriate for a reporting purposes
Product price can be determined in advance before the production complete
Predetermined Overhead Rate (POR) equals to
Estimated total Manufacturing Overhead cost / Estimated basis of activity
Actual Manufacturing Overhead cost / Estimated basis of activity
Estimated total Manufacturing Overhead cost / Actual basis of activity
Actual total Manufacturing Overhead cost / Estimated total Manufacturing cost
Which basis uses percentage to determine POR?
Machine Hours & Direct Labour Hours
Diract Labour Hours & Direct Labour Cost
Direct Materials Cost & Direct Labour Cost
Direct Materials Cost
Which basis uses RM per basis to determine POR?
Unit of Production & Machine Hours
Direct Materials Cost & Direct Labour Cost
Direct Labour Cost & Direct Labour Hours
Unit of Production, Direct Labour Hours & Machine Hours
Applied Manufacturing Overhead equals to __________
Direct Materials + Direct Labour + Manufacturing Overhead
Predetermined Overhead Rate (POR) X Actual Basis of Activity
Predetermined Overhead Rate (POR) X Actual Manufacturing Overhead
Predetermined Overhead Rate (POR) X Estimated Basis of Activity
The adjustments entry for under applied overhead are
Dr Manufacturing Overhead ; Cr Cost Of Goods Sold
Dr Applied Manufacturing Overhead ; Cr Cost Of Goods Sold
Dr Cost Of Goods Sold; Cr Applied Manufacturing Overhead
Dr Cost Of Goods Sold; Cr Manufacturing Overhead
If overhead was over-applied,
Actual overhead costs exceed applied overhead.
Actual overhead costs exceed budgeted overhead.
Applied overhead exceeds actual overhead costs.
Budgeted overhead exceeds actual overhead costs.
Determine the correct components of Product cost in the normal costing system :
Actual Direct Material + Actual Direct Labour + Applied Manufacturing Overhead
Actual Direct Material + Actual Direct Labour + Standard Manufacturing Overhead
Actual Direct Material + Actual Direct Labour + Actual Manufacturing Overhead
Actual Direct Material + Standard Direct Labour + Applied Manufacturing Overhead
Determine the correct components of Product cost in the standard costing system :
Standard Direct Material + Standard Direct Labour + Standard Manufacturing Overhead
Standard Direct Material + Standard Direct Labour + Applied Manufacturing Overhead
Standard Direct Material + Actual Direct Labour + Standard Manufacturing Overhead
Actual Direct Material + Actual Direct Labour + Standard Manufacturing Overhead
