Exam 3: Wage Systems, Cost Apportionment, and Expenses in Cost Accounting

is the amount by which the absorbed overheads fall short of the actual amount of overheads incurred.

When …………………….is used on the basis of budgeted overheads and the rate is applied to the actual base, the actual overhead expenses may be different from the charged overheads.

….expenses are excluded from cost.

Such expenses which are included (even though they are not incurred) for taking managerial decisions are called………………

Salary paid to general manager is an item of………………expenses.

In time wage system, wages are paid according to the……………….

………expenses are partly fixed and partly variable.

The per unit expense of the ……………portion factory overhead varies with the volume of production while…..........................portion remains the same with volume.

Basis of apportionment of welfare department expenses is…………..

Under piece rate system of wage payment, payment is made according to the…………………

Unsuccessful research expenditure should be ......................... cost accounts.

Under Merrick's multiple piece rate system, 120% of the ordinary piece rate is given to workers whose level of performance is between…........................of the standard output.