GB 519 RANK Extraordinary Life/gb519rank.com GB 519 RANK Extraordinary Life/gb519rank.com | Page 20

Factory overhead applied . Actual factory overhead . Overapplied overhead . Allocated factory overhead . Underapplied overhead .
Question 3 . Question : The two main advantages of using predetermined factory overhead
rates are to provide more accurate unit cost information and to :
Student Answer : Simplify the accounting process . Provide cost information on a timely basis . Insure transmission of correct data . Extend the useful life of the cost data . Adjust for variances in data sources . UNIT 2 QUIZ
Question 4 . Question : The ideal criterion for choosing an allocation base for overhead is :
Student Answer : Ease of calculation .

Factory overhead applied . Actual factory overhead . Overapplied overhead . Allocated factory overhead . Underapplied overhead .

Question 3 . Question : The two main advantages of using predetermined factory overhead

rates are to provide more accurate unit cost information and to :

Student Answer : Simplify the accounting process . Provide cost information on a timely basis . Insure transmission of correct data . Extend the useful life of the cost data . Adjust for variances in data sources . UNIT 2 QUIZ

Question 4 . Question : The ideal criterion for choosing an allocation base for overhead is :

Student Answer : Ease of calculation .