Home / Questions / Match each item with the correct statement below predetermined overhead ratee overapplied overhead
Match each item with the correct statement below.
a.predetermined overhead ratee.overapplied overhead
b.plantwide overhead ratef.underapplied overhead
c.departmental overhead rateg.applied overhead
d.overhead varianceh.normal cost of goods sold
1.Overhead assigned to production using predetermined rates
2.An overhead rate computed using estimated data
3.The amount by which actual overhead exceeds applied overhead
4.The difference between actual overhead and applied overhead
5.The amount by which applied overhead exceeds actual overhead
6.A single overhead rate calculated using all estimated overhead for a factory divided by the estimated activity level across the entire factory
7.Estimated overhead for a single department divided by the estimated activity level for that same department
Match each item with the correct statement below.
a.actual cost systemc.normal cost system
b.job-order cost systemd.process-costing system
8.An approach that assigns the actual costs of direct materials and direct labour to products but uses a predetermined rate to assign overhead costs
9.An approach that assigns actual costs of direct materials, direct labour, and overhead to products
10.A costing system in which costs are collected and assigned to units of production for each individual job
11.A costing system that accumulates production costs by process by department for a given period of time
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