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"In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate", normal costings Multiple Choice Questions (MCQ) with choices manufacturing overhead applied, budget overhead applied, labor overhead applied, and none of above for accounting certifications online. Learn job costing questions and answers to improve problem solving skills for online bachelor degree programs in business administration. Normal Costings Video
Trivia Quiz on Normal Costings PDF Download eBook
MCQ: In normal costing, the budgeted rate is multiplied to an actual quantity, which have been used as the allocation base to calculate
- budget overhead applied
- manufacturing overhead applied
- labor overhead applied
- none of above
B
MCQ: The second ranked product in incremental revenue allocation method is termed as
- primary product
- First incremental product
- Second incremental product
- Third incremental product
B
MCQ: An implementation of planning decisions and evaluating performance is classified as
- control
- evaluation
- deciding
- performing
A
MCQ: If the actual payment to labor is $1200 and the budgeted rate is $1000, then the labor price variance would be
- less than zero
- equal to zero
- favorable
- unfavorable
D
MCQ: If the production is greater than sales, then operating income under variable costing is
- negative income value
- lower income
- higher income
- zero dividends
B