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D196 Unit 7 Exam Graded A+

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D196 Unit 7 Exam Graded A+ What is a predetermined overhead rate? - Answers - the ESTIMATED manufacturing overhead cost for the YEAR / total estimated activity What is applied manufacturing overhead? - Answers - the amount of manufacturing overhead that is assigned to the goods produced What is under applied manufacturing overhead? - Answers - the excess of ACTUAL manufacturing overhead costs over the APPLIED manufacturing overhead costs for a period What is over applied manufacturing overhead? - Answers - the excess of APPLIED manufacturing overhead costs over the Actual manufacturing overhead What is estimated manufacturing overhead? - Answers - BUDGETED manufacturing overhead costs that are used to establish the predetermined overhead rate What is an indirect cost? - Answers - Cost normally occurred for the benefit of several segments within the organization What is actual manufacturing overhead? - Answers - Manufacturing costs other than direct materials and direct labor. What is a job order cost system? - Answers - a method of costing that assigns costs to specific jobs or products The three general type of overhead costs in ABC system? - Answers - Unit-level, product-level, batch-line Calculating activity rate - Answers - Overhead cost pool/ cost driver What is a cost pool? - Answers - Total cost being generated by a specific overhead cost activity. Factory supervisors' salaries - Answers - product cost

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D196 Unit 7 Exam Graded A+
What is a predetermined overhead rate? - Answers -✔✔ the ESTIMATED
manufacturing overhead cost for the YEAR / total estimated activity

What is applied manufacturing overhead? - Answers -✔✔ the amount of
manufacturing overhead that is assigned to the goods produced

What is under applied manufacturing overhead? - Answers -✔✔ the excess
of ACTUAL manufacturing overhead costs over the APPLIED
manufacturing overhead costs for a period

What is over applied manufacturing overhead? - Answers -✔✔ the excess
of APPLIED manufacturing overhead costs over the Actual manufacturing
overhead

What is estimated manufacturing overhead? - Answers -✔✔ BUDGETED
manufacturing overhead costs that are used to establish the predetermined
overhead rate

What is an indirect cost? - Answers -✔✔ Cost normally occurred for the
benefit of several segments within the organization

What is actual manufacturing overhead? - Answers -✔✔ Manufacturing
costs other than direct materials and direct labor.

What is a job order cost system? - Answers -✔✔ a method of costing that
assigns costs to specific jobs or products

The three general type of overhead costs in ABC system? - Answers -✔✔
Unit-level, product-level, batch-line

Calculating activity rate - Answers -✔✔ Overhead cost pool/ cost driver

What is a cost pool? - Answers -✔✔ Total cost being generated by a
specific overhead cost activity.
Factory supervisors' salaries - Answers -✔✔ product cost

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