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(Circle the correct answer) Student Name 1. A short period such as a week or...

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Accounting

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(Circle the correct answer) Student Name 1. A short period such as a week or a month is considered satisfactory for determining allocation rates, because wide fluctuations may occur beyond this period. A) True B) False 2. An overhead rate may be applied to jobs on the basis of the number of units manufactured during the period. A) True B) False 3. A machine hours basis is preferred if different kinds of machines are used for various products. A) True B) False 4. The factor chosen as the basis must be one that can be easily measured for each job. A) True B) False 5. What time period is usually used to determine an overhead application rate? A) A month B) A week C) A Year D) A quarter 6. Each time an entry for overhead is made on a job cost sheet, the entry is also recorded in the manufacturing overhead applied journal. A) True 1 B) False

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