Examlex

Solved

Irrespective of the Costing System That a Manager or Management

question 29

Multiple Choice

Irrespective of the costing system that a manager or management accountant might select,the _________ rate is calculated in the same way.


Definitions:

Overhead Rate

A measure used to allocate indirect costs to produced goods or services, calculated as overhead costs divided by the allocation base.

Job Order Cost System

An accounting system that accumulates costs by individual jobs when the products or services are distinguishable from each other.

Time Tickets

Documents or electronic records used to track the amount of time an employee spends on a specific job or project.

Job Cost Sheets

Documents that track the direct materials, direct labor, and manufacturing overhead for a specific job, used in job costing systems.

Related Questions