Overhead costs are assigned to production using an overhead application rate,
whereas no such application rate is used to assign the costs of direct materials
and direct labor to production. The reason for this difference in procedures is
that:
Select one:
a. overhead is an indirect cost which...
University of Louisiana, Lafayette - ACCT 526 Final
Exam. Verified Document.
,Comprehensive Final Exam Page 1 of 27
ACCT526-850_010-201820
Started on Tuesday, 10 October 2017, 8:42 PM
State Finished
Completed on Tuesday, 10 October 2017, 10:42 PM
Time taken 2 hours
Grade 153.00 out of 180.00 (85%)
Question 1 Overhead costs are assigned to production using an overhead application rate,
Correct whereas no such application rate is used to assign the costs of direct materials
and direct labor to production. The reason for this difference in procedures is
Mark 3.00 out of
that:
3.00
Select one:
a. overhead is an indirect cost which cannot be traced easily and directly
to specific units of product
b. independent of both the number and the type of products manufactured
and also independent of the amount of overhead costs incurred
c. traceable directly to the products manufactured but independent of the
amount of overhead costs incurred
d. independent of the type and number of units manufactured but a casual
factor in the amount of overhead cost incurred
Your answer is correct.
The correct answer is: overhead is an indirect cost which cannot be traced easily and
directly to specific units of product
Question 2
An advantage of using regression analysis over the high-low and scattergraph
Correct methods is that
Mark 3.00 out of
3.00
Select one:
a. neither: regression analysis is less costly to implement than high-low
or scattergraph methods or is a more precise approach than the high-low
or scattergraph methods
b. regression analysis is less costly to implement than high-low or
scattergraph methods
c. regression analysis is a more precise approach than the high-low or
scattergraph methods
d. both: regression analysis is less costly to implement than high-low or
scattergraph methods and is a more precise approach than the high-low
or scattergraph methods
Your answer is correct.
The correct answer is: regression analysis is a more precise approach than the high-low or
scattergraph methods
Question 3 An example of a discretionary fixed cost is:
Correct
Select one:
Mark 3.00 out of
3.00 a. depreciation of buildings and equipment
b. insurance
c. management training
d. taxes on real estate
Your answer is correct.
The correct answer is: management training
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TUTORSON. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.89. You're not tied to anything after your purchase.
