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 total job cost for Job A578 is closest to:
A. $9,715
B. $10,350
C. $2,065
D. $11,065
Answer: D
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Which of the following terms does not mean the same as the others?
a. Book value b. Salvage value c. Scrap value d. Disposal value
What has research shown about the value Americans place on the ethical nature of their employer?
a. A minority of Americans consider an ethical culture a very important component in an employer. b. The majority of Americans do not consider ethics when looking for an employer. c. Most Americans would like to work for an ethical company but do not consider it a priority. d. A vast majority believe it is highly important to work for an ethical company.
Grace Corporation issued 60,000 shares of $5 par value common stock for $600,000. The journal entry to record the transaction is:
A) Cash 600,000 Common Stock 600,000 B) Cash 300,000 Common Stock 300,000 C) Cash 600,000 Common Stock 300,000Additional Paid-In Capital 300,000 D) Cash 300,000 Additional Paid-In Capital 300,000
All well run companies practice "earnings management"
Indicate whether the statement is true or false