1.Which of the following is not a factory overhead allocation method?
- single plantwide rate
- multiple departmental rates
- traditional costing
- activity-based costing
2.Common allocation bases are
- direct labor dollars, direct labor hours, square footage
- direct labor dollars, direct labor hours, machine hours
- direct labor dollars, direct labor hours, machine dollars
- machine dollars, direct labor dollars, machine hours
3.Which of the following is not a cost pool used with the activity-based costing method?
- direct labor hours
- production setups
- machine hours
- all are ABC cost pools
4.Activity rates are determined by
- dividing the actual cost for each activity pool by the actual activity base for that pool.
- dividing the cost budgeted for each activity pool by the estimated activity base for that pool.
- dividing the actual cost for each activity pool by the estimated activity base for that pool.
- dividing the cost budgeted for each activity pool by the actual activity base in that pool.
5.If selling and administrative expenses are allocated to different products, they should be reported as a
- product cost
- factory overhead cost
- period cost
- cost of goods sold
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