Collini 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 17,000 15,000Direct labor-hours 3,000 6,000Total fixed manufacturing overhead cost$102,000$61,200Variable manufacturing overhead per machine-hour$1.70 Variable manufacturing overhead per direct labor-hour $4.10 During the current month the company started and finished Job T268. The following
data were recorded for this job: Job T268:MachiningCustomizingMachine-hours 80 30Direct labor-hours 30 50Direct materials$720$380Direct labor cost$900$1,500If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to:
A. $7,440.00
B. $6,763.40
C. $4,831.00
D. $1,932.40
Answer: B
You might also like to view...
When evaluating the MUS sample results, the auditor calculates the total estimated misstatement in the account balance based on the sampling process using which of the following components?
a. Basic Precision. b. Projected misstatement for items in lower-stratum. c. Incremental Allowance for Sampling Error. d. All of the above.
Journal entries are required for the reconciling items on the book side because ________
A) those transactions have not yet been recorded by the bank B) the adjusted balances on both sides are the same amounts C) the amounts are immaterial D) those transactions have not yet been recorded on the company's books
Cybersquatting is illegal only if a domain name is identical to the trademark of another, not if the name is merely confusingly similar
a. True b. False Indicate whether the statement is true or false
Spotted Frog Winery California, produces 75,000 cases of wine a year. It employs 52 full-time workers and, during harvest, another 25 people as pickers. During the 2011 harvest, some employees were unhappy about working conditions and discussed unionizing. They contacted the Winery Workers of America (WWA) for help. Spotted Frog management was upset. If it had to pay workers more (as the union
promised), the winery would lose its slim profits. Believing he was acting correctly, the president distributed a memo stating that any employee caught discussing unionization would be fired. Pierre, the wine master at Spotted Frog, was furious about the memo and became an advocate for the union cause. Management would not fire Pierre because he gave their wine its unique taste. But they did fire ten employees who spoke with Pierre. WWA collected authorization cards from employees, requested a representation election, and won a close election. The union, with Pierre as its agent, began negotiating a collective bargaining agreement. Negotiations went badly as the management rejected every proposal. WWA called a strike against Spotted Frog. After two weeks, management caved in and signed a contract, so its employees returned to work. As Pierre entered the winery, he did not see some grape skins on the floor. He slipped and was injured. At least what fraction of the Spotted Frog employees must vote in favor of WWA being their collective bargaining representative for the union to be certified by the NLRB? a. 30% b. 50% c. 60% d. 66% e. 75%