Grib Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rates for the year are 200% of direct labor cost for Department A and 50% of direct labor cost for Department B. Job 436, started and completed during the year, was charged with the following costs: Dept. ADept. BDirect materials$50,000$10,000Direct labor ?$60,000Manufacturing overhead$80,000 ? The total manufacturing cost assigned to Job 436 was:
A. $480,000
B. $390,000
C. $270,000
D. $360,000
Answer: C
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From its inception through the year of 2016, Quicksales, Inc was profitable and made strong dividend payments each year
In the year 2017, Quicksales had major losses and paid no dividends. In 2018, the company started making large profits again, and they were able to pay dividends to all shareholders-both common and preferred. There are 2,000 shares of cumulative, 10% preferred stock outstanding. The preferred stock has a par value of $100. What is the total amount of dividends that should be paid to the preferred stockholders in December, 2018? A) $60,000 B) $90 C) $20,000 D) $40,000
Many organizations expend resources to provide training and create written documents about appropriate and expected behavior. If you are a big retail chain such as Home Depot or Macy's, you should ensure that store managers
A) ?understand the ethics code.
B) enforce the ethics code.?
C) understand there are very real regional differences in America as regards ethics.?
D) understand that ethics codes should be enforced, but with exceptions.
A person can become a Certified Financial Planner merely by filling out an application and paying an annual fee
Indicate whether the statement is true or false.
A manufacturer of playground equipment has a standard costing system based on standard direct labor-hours (DLHs) as the measure of activity. Data from the company's flexible budget for manufacturing overhead are given below: Denominator level of activity 5,800DLHs Fixed overhead cost$58,870 The following data pertain to operations for the most recent period: Actual hours 6,100DLHs Standard hours allowed for the actual output 6,018DLHs Actual total fixed manufacturing overhead cost$58,320 The fixed manufacturing overhead applied to products during the period is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $58,870 B. $61,915 C. $61,083 D. $58,320