A company's job order costing system applies overhead based on direct labor cost. The company's estimated production costs were: direct labor, $57,600; direct materials, $76,800; and factory overhead, $9,600. Calculate the company's predetermined overhead rate.
What will be an ideal response?
= 16.7%
You might also like to view...
Newbook publishing has just negotiated a contract with an important author. At the end of the negotiations, the author, Pat Conray, makes a "nibbling" request. Create a nibbling request that Pat is most likely to have used.
What will be an ideal response?
Which of the following is perceived from an experience curve?
A) Prices increase as total production volume is doubled. B) Labor time does not impact an organization's overall costs. C) Valued-added costs increase each time cumulative volume doubles. D) Performing a task more often reduces the costs of doing it.
What is the effect on net income for the current year if a company fails to record a purchase of materials in transit (FOB shipping point) but includes the materials in physical inventory at year-end?
A) Net income is overstated. B) Net income is understated. C) Net income is unaffected. D) Not enough information is provided to determine the answer.
Which of the following is a social factor that influences consumer buying behavior?
A) family B) life-cycle stage C) economic situation D) personality E) occupation