If a project is expected to be completed in 68 days with a project variance of 21 days, what is the probability that the project will be completed within 50 days?
A. 0%
B. 0.39%
C. 50%
D. 100%
A. 0%
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Virtually every company should have a "service department."
Indicate whether the statement is true or false
For the month of January, Year 1, Ghent Corporation had a beginning balance of $103,200 in work in process. During the month, the company added the following costs to work in process: direct materials, $90,900; direct labor, $54,000; and manufacturing overhead, $81,000. The ending amount of work in process was $37,400. What was the cost of goods manufactured for the period? Prepare a schedule that shows the calculation of the cost of goods manufactured.
What will be an ideal response?
Coates Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $249,000, variable manufacturing overhead of $3.80 per machine-hour, and 30,000 machine-hours. The company has provided the following data concerning Job X784 which was recently completed: Job E's manufacturing cost: Number of units in the job 50Total machine-hours 250Direct materials$470Direct labor cost$5,500 If the company marks up its unit product costs by 30% then the selling price for a unit in Job X784 is closest to:
A. $53.97 B. $253.87 C. $233.87 D. $155.22
A transfer of fungible goods does not constitute a bailment
Indicate whether the statement is true or false