Question 1
When using a normal costing system, manufacturing overhead is allocated using the ________ manufacturing overhead rate and the ________ quantity of the allocation base.
◦ budgeted; actual
◦ budgeted; budgeted
◦ actual; budgeted
◦ actual; actual
Question 2
Which of the following statements about actual costing is true?
◦ Manufacturing costs of a job are available earlier under actual costing.
◦ Corrective actions can be implemented sooner under actual costing.
◦ Actual costing uses budgeted indirect-cost rates calculated annually.
◦ Actual costing uses actual indirect-cost rates calculated annually.
TrUe....FaLsE
True Friendship
Hubbard’s Predication of Peak in U.S Oil Production with Actual Data
Anterosuperior view of true pelvis (blue)