Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as

A over allocated budget
B under allocated budget
C under allocated indirect cost
D over allocated direct cost

Correct Answer: under allocated indirect cost

Costing and allocating situation, in which indirect cost allocated amount is less than actually incurred amount is known as under allocated indirect cost. Overhead allocation is the apportionment of indirect costs to produced goods.
Bissoy MCQ
#Commerce #Costing

Related Questions

In normal costing, situation in which allocated amount of indirect cost is greater than incurred cost, is considered as
A incurred indirect cost
B over allocated indirect cost
C applied indirect cost
D applied direct cost
A fruit salad is made by mixing 3 kgs of mango costing Tk 120 per kg and 2kgs of papaya costing Tk 100 per kg and 2 kgs of grapes costing Tk 140 per kg. At what price (in Taka) per kg should the mixture be sold to make a profit of 25 percent?
A 125
B 150
C 175
D None of these
Costing system, which is a combination of process costing and job costing system is classified as
A weighted costing system
B average costing system
C hybrid costing system
D double costing system
A candy dealer makes up a mixture of 3 parts of candy costing him Tk. 60 per pound with 2 parts of candy costing him Tk. 70 per pound and 2 parts of candy costing him Tk. 50 per pound. At what price per pound should he sell his mixture to make a profit of 25 percent?
A Tk. 50
B Tk. 60
C Tk. 70
D Tk. 75
Costing system, which classify cost into cost categories in a way when an expense is incurred in process is called
A conversion expense costing system
B inventory costing system
C process costing system
D job costing system
During the four years that Mr. Rahim owned his car,he found that his total car expenses were Tk. 18,000. Fuel and maintenance costs accounted for 1/3 of the total cost and together these two costs accounted for 1/5 of the total cost. If the only other expenses were taxes and License fees, then the cost of financing was how more of less than the cost of taxes and license fees?
A 300 tk less
B 600
C 500
D 8525
L is older than M and taller than N. O is younger than P, older than N and shorter than Q. R is older than S, younger than N, shorter than S and taller than Q. S is older than L, M, O, P, Q, R and S is necessarily false?
A O is the shortest of the group.
B N is the second tallest of the group.
C L is the tallest of the group.
D Q is the third oldest of the group.
The cost of picture frame M is Tk. 10.00 less than 3 times the cost of picture frame N. If the cost of frame M is Tk. 50.00, what is the cost of frame N?
A Tk. 13.33
B Tk. 16.66
C Tk. 20.00
D Tk. 26.66
The cost of picture frame M is TK. 10.00 less than 3 times the cost of picture frame N. If the cost of frame M is TK. 50.00 , what is the cost of frame N?
A TK. 13.33
B TK. 16.66
C TK. 20.00
D TK. 26.66
Two lots of onions with equal quantity, one costing Tk. 10 per kg and the other costing Tk. 15 per kg are mixed together and whole lot is sold at Tk. 15 per kg . What is the profit or loss?
A 10% loss
B 10 % profit
C 20% loss
D 20% profit

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