Determine a cost system that uses estimated overhead costs, Cost Accounting

1) Presented below is a list of terms, followed by definitions or descriptions of those terms.

a. Cost pool

b. Actual cost system

c. Cost driver

d. Manufacturing diversity

e. Traditional overhead allocation

f. Activity-based costing

g. Allocation base

h. Normal cost system

i. Manufacturing overhead allocation

Required: Match the letter next to each term or description on the list with the appropriate definition.

Each letter will be used only once.

1. A cost system that uses estimated overhead costs

2. An amount associated with cost objects that is used to proportionately  distribute costs to each cost object

3. A cost system that uses actual overhead costs

4. Uses a single manufacturing overhead cost pool and a single, plant-wide  allocation rate

5. Process of assigning or allotting an amount of manufacturing overhead cost to  each  unit of product based on some reasonable basis of distribution

6. An activity that causes a particular cost that is used to allocate that cost

7. Uses multiple cost pools to develop multiple allocation rates

8. A company manufactures some simple and some complex products

9. An accumulation of the costs associated with a specific cost object

 

Posted Date: 3/20/2013 4:03:18 AM | Location : United States







Related Discussions:- Determine a cost system that uses estimated overhead costs, Assignment Help, Ask Question on Determine a cost system that uses estimated overhead costs, Get Answer, Expert's Help, Determine a cost system that uses estimated overhead costs Discussions

Write discussion on Determine a cost system that uses estimated overhead costs
Your posts are moderated
Related Questions
Hale Company makes sets of wrenches. They are trying to decide whether to continue to make the case the wrenches are sold in, or to outsource it to another company. The direct mate

WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS

advantages and disadvantages of just in time

Chrome-It, Inc., manufactures special chromed parts made to the order and specifications of the customer.  It has two production departments, stamping and plating, and two service

Price and Cost   information  play  no  role  in  negotiated  transfer  prices.  Do  you  agree? Describe.

In early July, Mike Gottfried purchased a $70 ticket to the December 15 game of the Chicago Titans. (The Titans belong to the Midwest Football League and play their games outdoors

what are importance of cost classification

a company wants to buy a new machine to replace on which is having frequent breakdown.............. .......... c-the models suitable for different levels for demand of product?

Variable Overhead Efficiency Variance Budget for December 2003; Shs. Fixed Overheads 11,480 Variable Over

how to determine reasonable, allowable, allocable, variable, fixed cost of new company