accounting questions 1 The formula for computing an indirect cost rate has the...
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Accounting
accounting questions
1 The formula for computing an indirect cost rate has the cost in the numerator and the volume of the cost driver or allocation base in the denominator. Select one: O True O False 2 A predetermined overhead rate is calculated by dividing the expected level of activity by the estimated total overhead cost Select one: O True O False 3 Overhead cannot be entered in Work in Process Inventory when using a predetermined overhead rate. Only when the actual overhead costs are determined is the overhead entered. Select one: O True O False 4 The expected level of activity in a production center is 30,000 machine-hours. Estimated overhead costs are indirect materials and indirect labor, 360,000, other overhead, 90,000. Which of the following is the predetermined overhead rate per machine-hour? Select one or more: a. 20 b. 15 c. 12 d. 3 OD
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