A manufacturing company applies overhead based on direct labor hours. At the beginning of the year, it estimated that overhead costs would be $720,000 and direct labor hours would be 90,000 . Actual overhead costs incurred were $754,400, and actual direct labor hours were 92,000 . Compute the predetermined overhead rate per direct labor hour
a. $7.83
b. $8.38
c. $8.20
d. $8.00
D
You might also like to view...
In statistical or nonstatistical sampling methods used in substantive testing, an auditor most likely would stratify a population into meaningful groups if:
A. monetary-unit sampling (MUS) is used. B. the standard deviation of recorded amounts is relatively small. C. the auditor's estimated tolerable misstatement is extremely small. D. classical variables sampling is used in order to focus on large items.
Every correction of an error that requires restatement of prior year financial statements requires a journal entry to increase or decrease the beginning balance of Retained Earnings
Indicate whether the statement is true or false
One type of stock enables the shareholder to get his or her usual dividend. Then, after the common shareholders receive their normal dividend, he or she is able to share in any additional income with the common shareholders. This type of stock is ________.
A. participating preferred B. cumulative to the extent earned C. cumulative preferred D. noncumulative preferred
________ is the formal process of monitoring progress toward meeting marketing objectives
A) Corporate culture B) Control C) Implementation D) Situation analysis E) SWOT analysis