Which of the Following Is NOT a "Class" of Intangible

question 35

Multiple Choice

Which of the following is NOT a "class" of intangible assets?

• A)Industrial designs.
• B)Raw materials.
• C)Patents.
• D)Computer software.

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Definitions:

Predetermined Overhead Rate

This is a rate used to apply manufacturing overhead to products or job orders and is established in advance based on estimated costs and activity levels.

Raw Materials Inventory

The total cost of all the materials that are used to make a product but have not yet been used in the manufacturing process.

Predetermined Overhead Rate

A rate calculated at the beginning of a period for assigning overhead cost to products or activities, based on estimated costs and activity levels.

Applied Overhead

The portion of overhead costs allocated to individual jobs or products based on a predetermined rate.