Top 50+ Solved Accounting of overheads (Part 1) MCQ Questions Answer
Q. Production overheads represent indirect materials, indirect wages and indirect expenses attributable to:
a. Production activities
b. Service activities
c. Both A&B
d. None
Q. Which of the following procedure is incorrect for attributing overhead costs to cost units?I. Collecting production overhead costs by item II. Establishing cost centres III. Allocating and apportioning overhead costs to cost centres IV. Apportioning service cost centre costs to production cost centres V. Absorbing production cost centre costs into cost units
a. All of the above are correct
b. All of the above are incorrect
c. (II) and (IV) are incorrect
d. (II) is incorrect
Q. . The total amount of factory overhead represents:
a. Allocated costs
b. Apportioned costs
c. Share of service department costs
d. All of the above