Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 50,000Total fixed manufacturing overhead cost$285,000Variable manufacturing overhead per direct labor-hour$3.80Recently, Job P513 was completed with the following characteristics: Number of units in the job 10Total direct labor-hours 20Direct materials$710Direct labor cost$500The estimated total manufacturing overhead is closest to:
A. $475,000
B. $285,004
C. $285,000
D. $190,000
Answer: A
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A) extraneous experiment B) laboratory experiment C) causal experiment D) longitudinal experiment E) field experiment
Launch Company sells 2500 paddleboards per year at a sales price of $470 per unit. Launch sells in a highly competitive market and uses target pricing. The company has $800,000 of assets, and the shareholders wish to make a profit of 16% on assets. Variable cost is $190 per unit and cannot be reduced. Assume all products produced are sold. What are the target fixed costs?
A) $1,175,000 B) $1,047,000 C) $128,000 D) $572,000
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Answer the following statement true (T) or false (F)
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