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Accounting for overheads

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Accounting for overheads

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • March 9, 2020 at 3:33 pm #564995
    konichan
    Member
    • Topics: 12
    • Replies: 7
    • ☆

    Could you explain for me 2 terms which are “Allocated costs” and “General costs”?

    Regarding “general costs”, I understand how it is calculated

    But “Allocated costs” is available on a exercise but I dont know how it is calculated.

    March 9, 2020 at 4:15 pm #565002
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    Allocated costs are the costs allocated/applied to each department. For example if there is a Department A and if the manager of that department is paid $10,000, then the $10,000 is allocated as a cost of Department A.

    I do explain this in my free lectures on the allocation, apportionment, and absorption of overheads.

    March 10, 2020 at 3:36 am #565019
    konichan
    Member
    • Topics: 12
    • Replies: 7
    • ☆

    I’ve watched your lectures. I’d like to make sure that I understand right about 2 terms
    Allocated costs that we know exactly a cost which department is applied to.
    General costs that we don’t know exactly how much cost applied to each department therefore we apportion the general costs for each department base on a appropriate basic such as floor, labour hours, etc.

    Anyway thank you for your help, sir.

    March 10, 2020 at 7:29 pm #565057
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54701
    • ☆☆☆☆☆

    That is correct 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Accounting for overheads’ is closed to new replies.

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