'I.The process of charging overheads to cost objects is called.... 0 Allocation O Absorption O Attrition O Re-apportionment 2. The term for the sharing out of overheads among cost centres on a fair and equitable basis is called.. 0 Apportionment O Allocation 0 Division 0 Recovery 3. There are two types of cost centres found in an Overhead Analysis Statement? Which two below are correct 0 Direct and indirect cost centres 0 production and service cost centres 0 unit and Total cost centres O Mixing and maintenance cost centres 4. What is being described here? A department or area of a business where costs are gathered from or charged to 0 cost unit 0 direct centre 0 direct unit 0 cost centre 5. What is the best description of overheads O indirect cost which are not easily identifiable in a product O direct cost which are easily identifiable it a product O direct cost which are not easily identifiable in a product O indirect cost which are easily identifiable in a product 6. Which of the following is the correct formula for the predetermined overhead absorption rate? O budgeted direct costs divided by total labour cost O budgeted prime cost divided by the estimated level of output O Budgeted overhead cost divided by the Budgeted level of activity O Actual overhead cost divided by the actual level of activity7. The allotment of whole items of overhead cost to a cost centre is called... 0 Allocation of overheads 0 under absorption 0 over absorption 0 Analysis of overheads 8. Identify the correct basis of apportionment for Rent O oor space 0 number of employees O Kw hours 0 Book value 9. Identify the correct basis of apportionment for Depreciation of machinery 0 number of employees 0 horse power 0 book value of equipment 0 floor area 10. What is NOT an example of overhead costs 0 rent of premises 0 direct material 0 power cost 0 depreciation