Manufacturing Overhead (Q&A)

87 Q&A

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• What is manufacturing overhead and what does it include?
• What is the difference between product costs and period costs?
• What is a flexible budget?
• What is cost accounting?
• What is absorption costing?
• What is job order costing?
• What are conversion costs?
• What is process costing?
• What is the difference between a cost center and a profit center?
• What is a cost center?
• What is a fringe benefit rate?
• What is the difference between actual overhead and applied overhead?
• What is cost allocation?
• How do I compute the units of production method of depreciation?
• Are salaries and wages part of expenses on the income statement?
• What are direct costs?
• What is responsibility accounting?
• What are manufacturing costs?
• What is the high-low method?
• What is the difference between prime costs and conversion costs?
• What is a cost driver?
• What is the traditional method used in cost accounting?
• Are direct costs fixed and indirect costs variable?
• What is a responsibility center?
• What is the difference between normal costing and standard costing?
• What is variance analysis?
• What are inventoriable costs?
• What is the difference between depreciation expense and accumulated depreciation?
• What are fixed assets?
• How do you calculate opportunity costs?
• What is inventory valuation?
• What is a plant-wide overhead rate?
• What is relevant range?
• What are indirect manufacturing costs?
• What is insurance expense?
• What is elastic demand?
• What is managerial accounting?
• What is direct labor?
• What is the difference between a budget and a standard?
• What are production costs?
• Is depreciation a direct or indirect cost?
• What is setup cost?
• What are out-of-pocket costs?
• Why use normal costing instead of actual costing?
• How do I compute the product cost per unit?
• Is rent expense a period cost or a product cost?
• Why is the distinction between product costs and period costs important?
• What is the major weakness of the traditional method of allocating factory overhead?
• What is the meaning of fixed overhead absorbed?
• Is the rental cost of a building considered overhead?
• What is a fixed cost?
• Under accrual accounting, how are worker comp premiums handled?
• Can absorption costing cause an increase in net income?
• What is a service department?
• What is the death spiral?
• Is the depreciation of delivery trucks a period cost or is it manufacturing overhead?
• What are departmental overhead rates?
• What are semivariable costs?
• What is an indirect cost?
• Why is manufacturing overhead allocated to products?
• Are repairs to office equipment and factory equipment period costs?
• What is meant by the full cost of a product?
• Are insurance premiums a fixed cost?
• What do overabsorbed and underabsorbed mean?
• What is theoretical capacity?
• What causes an unfavorable fixed overhead budget variance?
• What does an unfavorable volume variance indicate?
• Why would the cost behavior change outside of the relevant range of activity?
• What is a predetermined overhead rate?
• What is a burden rate in inventory?
• How can a manufacturer determine the precise cost of its products?
• How do you determine the fixed portion of overhead cost?
• Is a favorable variance always an indicator of efficiency in operation?
• Isn't all overhead fixed?
• Can a cost be both a direct cost and an indirect cost?
• Is depreciation an operating expense?
• What are the advantages of departmentalizing manufacturing overhead costs?
• Is a utility bill an expense?
• What is the coefficient of determination?
• What is the weakness of traditional cost allocations?
• What is a dependent variable?
• What is an independent variable?
• Should a manufacturer's selling prices be based on costs?
• Why does a cost system developed for inventory valuation distort product cost information?
• What is meant by overabsorbed?
• Are there two ABC methods in accounting?
• What type of expense is the purchase of propane?