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Budget Indirect Costs and End of Financial Year MCQs Quiz Online Tests pdf Download

Practice MCQs on budget indirect costs and end of financial year, accounting MCQs for online test prep. Job costing quiz has multiple choice questions (MCQ), budget indirect costs and end of financial year quiz questions and answers as in normal costing, situation in which allocated amount of indirect cost is greater than incurred cost, is considered as, answer key with choices as incurred indirect cost, over allocated indirect cost, applied indirect cost and applied direct cost for competitive exam prep. Free study guide is to learn budget indirect costs and end of financial year quiz online with MCQs to practice test questions with answers.

MCQs on Budget Indirect Costs and End of Financial Year Quiz pdf Download

MCQ. In normal costing, situation in which allocated amount of indirect cost is greater than 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 benefits of normal costing and 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. Costing and allocating situation, in which 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 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, allocated amount of indirect cost is $2000 and actual amount is $2200, then this is classified as

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

A