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
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
