The Manufacturing Overhead Applied to Work-In-Process Inventory by a Company

question 54

Multiple Choice

The manufacturing overhead applied to Work-in-Process Inventory by a company that uses standard costing would be computed as:

• A)actual hours * a predetermined (standard)overhead rate.
• B)standard hours * a predetermined (standard)overhead rate.
• C)actual hours * an actual overhead rate.
• D)standard hours * an actual overhead rate.
• E)$0,because users of standard costing do not apply overhead to work in process.

Recognize the role and creation process of uniform acts and their transformation into law.

Distinguish between statutory law and common law, including their origins and applications.

Appreciate the principles underpinning natural law and legal positivism.

Identify the differences and functions of substantive law, procedural law, public law, and private law.