Filters
Question type
Study Flashcards

Which of the following statements is not correct concerning multiple overhead rate systems?


A) A multiple overhead rate system is more complex than a system based on a single plantwide overhead rate.
B) A multiple overhead rate system is usually more accurate than a system based on a single plantwide overhead rate.
C) A company may choose to create a separate overhead rate for each of its production departments.
D) In departments that are relatively labor-intensive, their overhead costs should be applied to jobs based on machine-hours rather than on direct labor-hours.

E) A) and B)
F) All of the above

Correct Answer

verifed

verified

Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: During the current month the company started and finished Job K928. The following data were recorded for this job: The amount of overhead applied in the Machining Department to Job K928 is closest to: A) $783.00 B) $810.00 C) $162.00 D) $171,000.00 During the current month the company started and finished Job K928. The following data were recorded for this job: Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: During the current month the company started and finished Job K928. The following data were recorded for this job: The amount of overhead applied in the Machining Department to Job K928 is closest to: A) $783.00 B) $810.00 C) $162.00 D) $171,000.00 The amount of overhead applied in the Machining Department to Job K928 is closest to:


A) $783.00
B) $810.00
C) $162.00
D) $171,000.00

E) B) and C)
F) None of the above

Correct Answer

verifed

verified

Kubes Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $90,000, variable manufacturing overhead of $3.50 per direct labor-hour, and 30,000 direct labor-hours. The company has provided the following data concerning Job A477 which was recently completed: Kubes Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $90,000, variable manufacturing overhead of $3.50 per direct labor-hour, and 30,000 direct labor-hours. The company has provided the following data concerning Job A477 which was recently completed: The amount of overhead applied to Job A477 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $300 B) $350 C) $650 D) $1,000 The amount of overhead applied to Job A477 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $300
B) $350
C) $650
D) $1,000

E) A) and D)
F) B) and C)

Correct Answer

verifed

verified

Job-order costing systems often use allocation bases that do not reflect how jobs actually use overhead resources.

A) True
B) False

Correct Answer

verifed

verified

The formula for computing the predetermined overhead rate is: Predetermined overhead rate = Estimated total amount of the allocation base ÷ Estimated total manufacturing overhead cost

A) True
B) False

Correct Answer

verifed

verified

Barbeau Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: Barbeau Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: During the current month the company started and finished Job A492. The following data were recorded for this job: The amount of overhead applied in the Milling Department to Job A492 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $146,200.00 B) $144.00 C) $756.00 D) $774.00 During the current month the company started and finished Job A492. The following data were recorded for this job: Barbeau Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: During the current month the company started and finished Job A492. The following data were recorded for this job: The amount of overhead applied in the Milling Department to Job A492 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $146,200.00 B) $144.00 C) $756.00 D) $774.00 The amount of overhead applied in the Milling Department to Job A492 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $146,200.00
B) $144.00
C) $756.00
D) $774.00

E) A) and D)
F) A) and B)

Correct Answer

verifed

verified

Ahlheim Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: Ahlheim Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T924. The following data were recorded for this job: The estimated total manufacturing overhead for the Assembly Department is closest to: A) $27,000 B) $55,200 C) $82,200 D) $47,700 During the current month the company started and finished Job T924. The following data were recorded for this job: Ahlheim Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T924. The following data were recorded for this job: The estimated total manufacturing overhead for the Assembly Department is closest to: A) $27,000 B) $55,200 C) $82,200 D) $47,700 The estimated total manufacturing overhead for the Assembly Department is closest to:


A) $27,000
B) $55,200
C) $82,200
D) $47,700

E) B) and D)
F) A) and C)

Correct Answer

verifed

verified

A job cost sheet is used to record how much a customer pays for the job once the job is completed.

A) True
B) False

Correct Answer

verifed

verified

Olmscheid Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Olmscheid Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period, the company started and completed two jobs--Job F and Job K. There were no beginning inventories. Data concerning those two jobs follow: Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job F. c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job K. d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job F. e. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job K. f. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job F. g. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job K. h. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs were sold during the month, what was the company's cost of goods sold for the month? During the period, the company started and completed two jobs--Job F and Job K. There were no beginning inventories. Data concerning those two jobs follow: Olmscheid Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: During the period, the company started and completed two jobs--Job F and Job K. There were no beginning inventories. Data concerning those two jobs follow: Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job F. c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job K. d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job F. e. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job K. f. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job F. g. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job K. h. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs were sold during the month, what was the company's cost of goods sold for the month? Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job F. c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job K. d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job F. e. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job K. f. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job F. g. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. Calculate the selling price for Job K. h. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs were sold during the month, what was the company's cost of goods sold for the month?

Correct Answer

verifed

verified

a. The first step is to calculate the es...

View Answer

Sivret 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 the following data: Sivret 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 the following data: Recently, Job M598 was completed with the following characteristics: The amount of overhead applied to Job M598 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $930 B) $4,200 C) $2,340 D) $3,270 Recently, Job M598 was completed with the following characteristics: Sivret 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 the following data: Recently, Job M598 was completed with the following characteristics: The amount of overhead applied to Job M598 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $930 B) $4,200 C) $2,340 D) $3,270 The amount of overhead applied to Job M598 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $930
B) $4,200
C) $2,340
D) $3,270

E) B) and C)
F) A) and D)

Correct Answer

verifed

verified

Janicki Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Janicki Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job J. There were no beginning inventories. Data concerning those two jobs follow: Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job J is closest to: (Round your intermediate calculations to 2 decimal places.) A) $65,115 B) $67,720 C) $21,705 D) $43,410 During the most recent month, the company started and completed two jobs--Job A and Job J. There were no beginning inventories. Data concerning those two jobs follow: Janicki Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job A and Job J. There were no beginning inventories. Data concerning those two jobs follow: Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job J is closest to: (Round your intermediate calculations to 2 decimal places.) A) $65,115 B) $67,720 C) $21,705 D) $43,410 Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job J is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $65,115
B) $67,720
C) $21,705
D) $43,410

E) A) and C)
F) C) and D)

Correct Answer

verifed

verified

Most countries require some form of absorption costing for external reports.

A) True
B) False

Correct Answer

verifed

verified

Deloria Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: Deloria Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T288. The following data were recorded for this job: The total amount of overhead applied in both departments to Job T288 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $508 B) $672 C) $1,688 D) $1,180 During the current month the company started and finished Job T288. The following data were recorded for this job: Deloria Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T288. The following data were recorded for this job: The total amount of overhead applied in both departments to Job T288 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $508 B) $672 C) $1,688 D) $1,180 The total amount of overhead applied in both departments to Job T288 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $508
B) $672
C) $1,688
D) $1,180

E) None of the above
F) All of the above

Correct Answer

verifed

verified

Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: During the current month the company started and finished Job T898. The following data were recorded for this job: The estimated total manufacturing overhead for the Milling Department is closest to: A) $240,833 B) $141,100 C) $28,900 D) $112,200 During the current month the company started and finished Job T898. The following data were recorded for this job: Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling 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: During the current month the company started and finished Job T898. The following data were recorded for this job: The estimated total manufacturing overhead for the Milling Department is closest to: A) $240,833 B) $141,100 C) $28,900 D) $112,200 The estimated total manufacturing overhead for the Milling Department is closest to:


A) $240,833
B) $141,100
C) $28,900
D) $112,200

E) A) and B)
F) B) and C)

Correct Answer

verifed

verified

Boward Corporation has two production departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly 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: Boward Corporation has two production departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T818. The following data were recorded for this job: The total amount of overhead applied in both departments to Job T818 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $1,651 B) $608 C) $435 D) $1,043 During the current month the company started and finished Job T818. The following data were recorded for this job: Boward Corporation has two production departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job T818. The following data were recorded for this job: The total amount of overhead applied in both departments to Job T818 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $1,651 B) $608 C) $435 D) $1,043 The total amount of overhead applied in both departments to Job T818 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $1,651
B) $608
C) $435
D) $1,043

E) None of the above
F) A) and B)

Correct Answer

verifed

verified

Posson 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 20,000 machine-hours, total fixed manufacturing overhead cost of $130,000, and a variable manufacturing overhead rate of $3.00 per machine-hour. Job K789, which was for 10 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Posson 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 20,000 machine-hours, total fixed manufacturing overhead cost of $130,000, and a variable manufacturing overhead rate of $3.00 per machine-hour. Job K789, which was for 10 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Required: a. Calculate the predetermined overhead rate for the year. b. Calculate the amount of overhead applied to Job K789. c. Calculate the total job cost for Job K789. d. Calculate the unit product cost for Job K789. Required: a. Calculate the predetermined overhead rate for the year. b. Calculate the amount of overhead applied to Job K789. c. Calculate the total job cost for Job K789. d. Calculate the unit product cost for Job K789.

Correct Answer

verifed

verified

a. Estimated total manufacturing overhea...

View Answer

Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: During the current month the company started and finished Job K928. The following data were recorded for this job: The predetermined overhead rate for the Machining Department is closest to: A) $7.20 per machine-hour B) $9.00 per machine-hour C) $21.38 per machine-hour D) $1.80 per machine-hour During the current month the company started and finished Job K928. The following data were recorded for this job: Kalp Corporation has two production departments, Machining and Finishing. 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 Finishing 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: During the current month the company started and finished Job K928. The following data were recorded for this job: The predetermined overhead rate for the Machining Department is closest to: A) $7.20 per machine-hour B) $9.00 per machine-hour C) $21.38 per machine-hour D) $1.80 per machine-hour The predetermined overhead rate for the Machining Department is closest to:


A) $7.20 per machine-hour
B) $9.00 per machine-hour
C) $21.38 per machine-hour
D) $1.80 per machine-hour

E) All of the above
F) B) and D)

Correct Answer

verifed

verified

Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The amount of manufacturing overhead applied to Job G is closest to: (Round your intermediate calculations to 2 decimal places.) A) $14,388 B) $26,160 C) $11,772 D) $18,320 During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: Morataya Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: During the most recent month, the company started and completed two jobs--Job B and Job G. There were no beginning inventories. Data concerning those two jobs follow: Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The amount of manufacturing overhead applied to Job G is closest to: (Round your intermediate calculations to 2 decimal places.) A) $14,388 B) $26,160 C) $11,772 D) $18,320 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The amount of manufacturing overhead applied to Job G is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $14,388
B) $26,160
C) $11,772
D) $18,320

E) C) and D)
F) None of the above

Correct Answer

verifed

verified

Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly 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: Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job P131. The following data were recorded for this job: The amount of overhead applied in the Assembly Department to Job P131 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $228.00 B) $558.00 C) $65,500.00 D) $786.00 During the current month the company started and finished Job P131. The following data were recorded for this job: Tiff Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly 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: During the current month the company started and finished Job P131. The following data were recorded for this job: The amount of overhead applied in the Assembly Department to Job P131 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $228.00 B) $558.00 C) $65,500.00 D) $786.00 The amount of overhead applied in the Assembly Department to Job P131 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $228.00
B) $558.00
C) $65,500.00
D) $786.00

E) B) and D)
F) B) and C)

Correct Answer

verifed

verified

The amount of overhead applied to a particular job equals the actual amount of overhead caused by the job.

A) True
B) False

Correct Answer

verifed

verified

Showing 221 - 240 of 292

Related Exams

Exam 1

Managerial Accounting and Cost Concepts

299 Questions

Exam 2

Costvolumeprofit Relationships

260 Questions

Exam 4

Variable Costing and Segment Reporting: Tools for Management

291 Questions

Exam 5

Activitybased Costing: a Tool to Aid Decision Making

213 Questions

Exam 6

Differential Analysis: the Key to Decision Making

203 Questions

Exam 7

Capital Budgeting Decisions

179 Questions

Exam 8

Master Budgeting

236 Questions

Exam 9

Flexible Budgets and Performance Analysis

417 Questions

Exam 10

Standard Costs and Variances

247 Questions

Exam 11

Performance Measurement in Decentralized Organizations

180 Questions

Exam 12

Cost of Quality

66 Questions

Exam 13

Analyzing Mixed Costs

82 Questions

Exam 14

Activity-Based Absorption Costing

20 Questions

Exam 15

the Predetermined Overhead Rate and Capacity

42 Questions

Exam 16

Super-Variable Costing

49 Questions

Exam 17

Time-Driven Activity-Based Costing: a Microsoft Excel-Based Approach

123 Questions

Exam 18

Pricing Decisions

149 Questions

Exam 19

the Concept of Present Value

16 Questions

Exam 20

Income Taxes and the Net Present Value Method

150 Questions

Exam 21

Predetermined Overhead Rates and Overhead Analysis in a Standard Costing System

177 Questions

Exam 22

Transfer Pricing

102 Questions

Exam 22

Service Department Charges

44 Questions

Show Answer