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

Practice MCQs on budget indirect costs and end of financial year with accounting tests for online test prep and learning. Free study guide has multiple choice questions (MCQ) with budget indirect costs and end of financial year quiz as in normal costing, situation in which allocated amount of indirect cost is greater than incurred cost is considered as, answering options incurred indirect cost, over allocated indirect cost, applied indirect cost and applied direct cost for exam prep. Study 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

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 classified 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 classified as

  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

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