Branin 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 total fixed manufacturing overhead cost of $160,000, variable manufacturing overhead of $3.40 per direct labor- hour, and 80,000 direct labor-hours. The company has provided the following data concerning Job A578 which was recently completed: Total direct labor-hours 250Direct materials$715Direct labor cost$9,000 The predetermined overhead rate is closest to:
A. $8.80 per direct labor-hour
B. $5.40 per direct labor-hour
C. $2.00 per direct labor-hour
D. $3.40 per direct labor-hour
Answer: B
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An entity's IT infrastructure refers to:
A. Software. B. Data provided by the system. C. Hardware components. D. Programmers.
Which of the following guides us in understanding relationship customs and practices globally?
A. intimacy B. culture C. interpersonal relationships D. gender
On March 1, 2018, Everson Services issued a 4% long-term notes payable for $16,000. It is payable over a 4-year term in $4000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2019. Each yearly installment will include both principal repayment of $4000 and interest payment for the preceding one-year period. On March 1, 2019, ________. The accounting period ends on December 31.
A) Everson must accrue $4000 of Interest Expense B) Everson must accrue the next note payment of $4000 as the current portion of principal payment C) Everson must pay $640 of interest to the note holder D) Everson will receive $4000 as an installment payment