Which of the Following Is One of the Steps Used

question 65

Multiple Choice

Which of the following is one of the steps used in assigning manufacturing overhead costs to individual jobs?

• A)combine different cost objects into pools
• B)assign direct costs to the cost object
• C)identify the direct cost pools associated with the job
• D)calculate the direct cost allocation rate for each direct cost pool
• E)select the cost-allocation base to use in allocating indirect costs to the cost object

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Definitions:

Post-closing Trial Balance

The trial balance prepared after closing entries have been posted to ensure that debits and credits still balance, marking the end of an accounting period.

Normal Balance

The side of an account (debit or credit) that is expected to increase; for assets and expenses, it’s debit; for liabilities, equity, and revenue, it's credit.

Financial Statement

A financial statement is a formal record of the financial activities and position of a business, person, or other entity.

Permanent/Temporary

Categories representing either enduring, long-term attributes or conditions, or those that are short-lived and transient.