Which of the following statements is incorrect?
A. A company may need to allocate overhead costs to products to make pricing decisions for the products.
B. A predetermined overhead rate is calculated using actual cost and volume data.
C. A predetermined overhead rate may be used to allocate overhead costs when volume varies during the year.
D. A predetermined overhead rate is calculated by dividing costs by volume, using a measure of volume such as direct labor hours or direct materials cost.
Answer: B
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a. COD; b. FOB shipping point; c. FOB destination; d. n/30 . e. none of these.
The YMCA and Gold's Gym engage in ________ competition when they both try to attract customers to buy their fitness center services
A) discretionary income B) product C) brand D) monopolistic E) oligopolistic
On December 31, 2017, Clark Sales has 10-year Bonds Payable of $89,000 and Discount on Bonds Payable of $15,350. How will this be shown on the December 31, 2017 Balance Sheet?
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Indicate whether the statement is true or false