PPSCFPSCNTSPakistan govt jobs
- Subject
- Job Costingaccounting-mcqs › cost-accounting-mcqs › job-costing
- Published
- 10 May 2023
- Last updated
- 28 May 2026
Explanation
When the allocated indirect cost ($2000) is less than the actual indirect cost ($2200), it results in an over allocated budget. This means the budgeted amount was insufficient to cover the actual expenses.
More Job Costing MCQs
Practice related questions from the same subject.
- 1.Given that the planned direct labor hours amount to 3,550 and the labor cost rate is $500 per hour, what is the total direct labor expense?
- 2.What term describes the scenario where a cost object is associated with a specific job, customer, or product?
- 3.In normal costing, what is determined by multiplying the budgeted overhead rate by the actual quantity of the allocation base used?
- 4.Given an indirect cost pool budget of $139,600 and a total cost allocation base amounting to $155,600, what is the budgeted indirect cost rate?
- 5.Given a budgeted indirect cost rate of $225 and a budgeted allocation base of 750 hours, what is the total annual budgeted indirect cost?
- 6.Given an annual budgeted manufacturing overhead of $2,250,000 and a total of 2,800 labor hours as the allocation base, what is the predetermined overhead rate per labor hour?
- 7.Given a budgeted indirect cost rate of $115 and a budgeted allocation base of 830 hours, what is the total budgeted indirect cost for the year?
- 8.What is the term for the process of directly assigning costs to a specific cost object?
More in Cost Accounting Mcqs
- Accounting Concepts
- Activity based Costing and Management
- Balanced Scorecard Quality, Time and Theory of Constraints
- Balanced Scorecard and Strategic Profitability Analysis
- Basics of Accounting
- Budgeting and Accounting
- Capacity Analysis and Inventory Costing
- Capital Budgeting and Cost Benefit Analysis
- Cost Allocation Joint Products and Byproducts
- Cost Allocation, Customer Profitability and Sales Variance Analysis
- Cost Function and Behavior
- Cost Management and Pricing Decisions
- Cost Volume Profit Analysis
- Decision Making Process and Information
- Department Costs, Common Costs and Revenues
- Direct Cost Variances and Management Control
- Financial Ratios Analysis
- Flexible Budget Overhead Cost Variance
- Flexible Budget and Management Control
- Fundamentals of Accounting
- Inventory Management, Just in Time and Costing Methods
- Management Accounting in Organization
- Management Control Systems and Multinational Considerations
- Master Budget and Responsibility Accounting
- Overhead Cost Variances and Management Control
- Performance Measurement
- Process Costing
- Spoilage, Rework and Scrap