Eisentrout Corporation has two production departments, Machining and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: MachiningCustomizingMachine-hours 16,000 11,000Direct labor-hours 2,000 6,000Total fixed manufacturing overhead cost$104,000$56,400Variable manufacturing overhead per machine-hour$2.10 Variable manufacturing overhead per direct labor-hour $3.30During the current month the company started and finished Job T272. The following data
were recorded for this job:Job T272:MachiningCustomizingMachine-hours 60 30Direct labor-hours 10 60The estimated total manufacturing overhead for the Machining Department is closest to:
A. $137,600
B. $310,933
C. $104,000
D. $33,600
Answer: A
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A company's inventory records report the following: August 1Beginning balance22 units @ $12August 5Purchase17 units @ $11August 12Purchase21 units @ $12 On August 15, it sold 44 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?
A. $528 B. $624 C. $212 D. $960 E. $192
Which of the following statements best describes a by-product?
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If $30,000 is invested for one year at an annual interest rate of 13%, it will grow in value to ________.
A) $33,900 B) $36,208 C) $3900 D) $32,308
Queue discipline refers to the willingness of customers to wait in line for service
Indicate whether this statement is true or false.