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Budget Indirect Costs and End of Financial Year MCQs Quiz Online PDF Download eBook

Solve Budget Indirect Costs and End of Financial Year Multiple Choice Questions (MCQ), budget indirect costs and end of financial year quiz answers PDF worksheet, cost accounting practice test for online courses. Learn job costing Multiple Choice Questions and Answers (MCQs), "Budget Indirect Costs and End of Financial Year" quiz questions and answers for online classes for bachelor's degree in business administration. Learn budget indirect costs and end of financial year, normal costings, building block concepts of costing systems test prep for online master's degree in business management.

"In normal costing, the situation in which the allocated amount of indirect cost is greater than the incurred cost, is considered as" Multiple Choice Questions (MCQ) on budget indirect costs and end of financial year with choices incurred indirect cost, over allocated indirect cost, applied indirect cost, and applied direct cost for online classes for bachelor's degree in business administration. Practice budget indirect costs and end of financial year quiz questions fmerit scholarship test and certificate programs for online business administration courses. Budget Indirect Costs and End of Financial Year Video

MCQs on Budget Indirect Costs and End of Financial Year PDF Download eBook

MCQ: In normal costing, the situation in which the allocated amount of indirect cost is greater than the incurred cost, is considered as

  1. incurred indirect cost
  2. over allocated indirect cost
  3. applied indirect cost
  4. applied direct cost

B

MCQ: An approach which yields the benefits of normal costing and the actual manufacturing overhead is classified as

  1. unadjusted allocation rate approach
  2. adjusted budget rate approach
  3. unadjusted budget rate approach
  4. adjusted allocation rate approach

D

MCQ: The costing and allocating situation, in which the indirect cost allocated amount is less than actually incurred amount is known as

  1. over allocated budget
  2. under allocated budget
  3. under allocated indirect cost
  4. over allocated direct cost

C

MCQ: An allocation approach, in which all the overhead entries are restated using actual cost rates in place of budgeted rates is called

  1. unadjusted budget rate approach
  2. adjusted allocation rate approach
  3. unadjusted allocation rate approach
  4. adjusted budget rate approach

B

MCQ: In a normal accounting period, the allocated amount of indirect cost is $2000 and the actual amount is $2200, it classified as

  1. over allocated budget
  2. under allocated budget
  3. under allocated indirect cost
  4. over allocated direct cost

A