Using normal costing, which of the following is false about actual overhead?
A) It is separated into many smaller accounts, such as indirect labor, supplies, etc...
B) It is reconciled at the end of a period with applied overhead.
C) Actual overhead is recorded to the overhead control account during the period.
D) All answers are true.
E) All answers are false.
A
You might also like to view...
Abnormal spoilage is considered a period cost
Indicate whether the statement is true or false
What is a common outcome of social facilitation upon people performing simple tasks?
a. On simple tasks, people will lower their level of performance in the presence of others b. On simple tasks, people will increase their level of performance in the presence of others c. People can only ever perform simple tasks in the presence of others d. People can only perform complex tasks in the presence of others
A company had inventory on November 1 of 5 units at a cost of $10 each. On November 2, they purchased 19 units at $12 each. On November 6 they purchased 15 units at $15 each. On November 8, 17 units were sold for $45 each. Using the perpetual LIFO inventory method, what was the value of the inventory on November 8 after the sale?
A. $264 B. $309 C. $254 D. $230 E. $247
The manager of a car wash wants to know how fast his new crew is processing cars through the wash area
He notices that it takes cars an average of about 30 minutes in line to reach the car wash, and his spot checks during the day indicated an average of seven cars in line waiting to be washed. What was the processing rate for his new crew that day? A) less than or equal to 2.0 minutes per car B) greater than 2.0 but less than or equal to 3.0 minutes per car C) greater than 3.0 but less than or equal to 4.0 minutes per car D) greater than 4.0 minutes per car