Lister Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year $624,000 Estimated direct labor-hours at the beginning of the year 39,000direct labor-hoursResults of operations: Actual direct labor-hours 36,000direct labor-hoursManufacturing Overhead: Indirect labor cost$131,000 Other manufacturing overhead costs incurred$543,000 The total amount of manufacturing overhead applied to production is:
A. $1,547,000
B. $624,000
C. $576,000
D. $674,000
Answer: C
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A) cluster analysis B) preference regression C) multidimensional scaling D) canonical correlation
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Alex is a calendar-year sole proprietor. He began business on December 1, this year. He uses the accrual method of accounting. Alex had the following collections in December:• Collected $7,000 in December, from clients who paid cash for services to be performed next year.• Collected $5,000 in December, for services performed during December; deposited in an operating account on December 31, this year.• Collected $12,000 in December; on accounts receivable for services performed in December; deposited in operating account on January 2, next year.What is the amount Alex must include in his income for December?
A. $24,000 B. $7,000 C. $12,000 D. $17,000