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Cost Accounting: Objectives After completing this chapter, you should be able to answer the following questions: LO . 1 Why and how are overhead costs
Cost Accounting:
Objectives
After completing this chapter, you should be able to answer the following questions:
LO Why and how are overhead costs allocated to products and services?
LO What causes underapplied or overapplied overhead, and how is it treated at
the end of a period?
LO What impact do different capacity measures have on setting predetermined
overhead rates?
LO How are the highlow method and least squares regression analysis used in
analyzing mixed costs?
LO How do managers use flexible budgets to set predetermined overhead
rates?
LO How do absorption and variable costing differ?
LO How do changes in sales or production levels affect net income computed
under absorption and variable costing?
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