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Housholder Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. Housholder Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. The predetermined overhead rate is closest to: A) $18.47 B) $16.94 C) $16.90 D) $15.50 The predetermined overhead rate is closest to:


A) $18.47
B) $16.94
C) $16.90
D) $15.50

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

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Job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job.

A) True
B) False

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Beans 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 $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics: Beans 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 $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics: If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $363.30 B) $103.80 C) $383.30 D) $324.80 If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $363.30
B) $103.80
C) $383.30
D) $324.80

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

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Thach 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 $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: Thach 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 $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: The unit product cost for Job T321 is closest to: A) $117.00 B) $58.50 C) $154.50 D) $51.50 The unit product cost for Job T321 is closest to:


A) $117.00
B) $58.50
C) $154.50
D) $51.50

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

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Nielsen 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: Nielsen 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 F and Job M. 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 and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.) A) $46,154 B) $41,958 C) $29,970 D) $11,988 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs follow: Nielsen 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 F and Job M. 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 and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.) A) $46,154 B) $41,958 C) $29,970 D) $11,988 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $46,154
B) $41,958
C) $29,970
D) $11,988

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

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Kreuzer Corporation is using a predetermined overhead rate of $22.30 per machine-hour that was based on estimated total fixed manufacturing overhead of $446,000 and 20,000 machine-hours for the period. The company incurred actual total fixed manufacturing overhead of $409,000 and 18,200 total machine-hours during the period. The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:


A) $446,000
B) $37,000
C) $372,190
D) $405,860

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

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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 predetermined overhead rate for the Casting Department is closest to: A) $9.40 per machine-hour B) $7.60 per machine-hour C) $1.80 per machine-hour D) $31.96 per machine-hour 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 predetermined overhead rate for the Casting Department is closest to: A) $9.40 per machine-hour B) $7.60 per machine-hour C) $1.80 per machine-hour D) $31.96 per machine-hour The predetermined overhead rate for the Casting Department is closest to:


A) $9.40 per machine-hour
B) $7.60 per machine-hour
C) $1.80 per machine-hour
D) $31.96 per machine-hour

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

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Dehner 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 the following data: Dehner 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 the following data: Recently, Job P951 was completed with the following characteristics: The estimated total manufacturing overhead is closest to: A) $120,000 B) $96,003 C) $96,000 D) $216,000 Recently, Job P951 was completed with the following characteristics: Dehner 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 the following data: Recently, Job P951 was completed with the following characteristics: The estimated total manufacturing overhead is closest to: A) $120,000 B) $96,003 C) $96,000 D) $216,000 The estimated total manufacturing overhead is closest to:


A) $120,000
B) $96,003
C) $96,000
D) $216,000

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

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Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: The predetermined overhead rate for the recently completed year was closest to: A) $29.39 per machine-hour B) $32.40 per machine-hour C) $32.81 per machine-hour D) $3.01 per machine-hour The predetermined overhead rate for the recently completed year was closest to:


A) $29.39 per machine-hour
B) $32.40 per machine-hour
C) $32.81 per machine-hour
D) $3.01 per machine-hour

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

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Generally speaking, when going through the process of computing a predetermined overhead rate, the estimated total manufacturing overhead cost is determined before estimating the amount of the allocation base.

A) True
B) False

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Dehner 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 the following data: Dehner 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 the following data: Recently, Job P951 was completed with the following characteristics: The total job cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $4,540 B) $4,755 C) $1,295 D) $5,295 Recently, Job P951 was completed with the following characteristics: Dehner 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 the following data: Recently, Job P951 was completed with the following characteristics: The total job cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $4,540 B) $4,755 C) $1,295 D) $5,295 The total job cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $4,540
B) $4,755
C) $1,295
D) $5,295

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

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Which of the following would usually be found on a job cost sheet under a normal cost system? Which of the following would usually be found on a job cost sheet under a normal cost system? A) Choice A B) Choice B C) Choice C D) Choice D


A) Choice A
B) Choice B
C) Choice C
D) Choice D

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

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Mundorf Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Mundorf Corporation has two manufacturing departments--Forming 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 H. 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 B is closest to: A) $48,555 B) $35,490 C) $2,988 D) $45,567 During the most recent month, the company started and completed two jobs--Job B and Job H. There were no beginning inventories. Data concerning those two jobs follow: Mundorf Corporation has two manufacturing departments--Forming 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 H. 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 B is closest to: A) $48,555 B) $35,490 C) $2,988 D) $45,567 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The amount of manufacturing overhead applied to Job B is closest to:


A) $48,555
B) $35,490
C) $2,988
D) $45,567

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

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Branin 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 $160,000, variable manufacturing overhead of $3.40 per direct labor- hour, and 80,000 direct labor-hours. The company has provided the following data concerning Job A578 which was recently completed: Branin 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 $160,000, variable manufacturing overhead of $3.40 per direct labor- hour, and 80,000 direct labor-hours. The company has provided the following data concerning Job A578 which was recently completed: The estimated total manufacturing overhead is closest to: A) $272,000 B) $160,000 C) $432,000 D) $160,003 The estimated total manufacturing overhead is closest to:


A) $272,000
B) $160,000
C) $432,000
D) $160,003

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

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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: 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: During the current month the company started and finished Job T268. The following data were recorded for this job: If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: (Round your intermediate calculations to 2 decimal places.) A) $1,932.40 B) $6,763.40 C) $4,831.00 D) $7,440.00 During the current month the company started and finished Job T268. The following data were recorded for this job: 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: During the current month the company started and finished Job T268. The following data were recorded for this job: If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: (Round your intermediate calculations to 2 decimal places.) A) $1,932.40 B) $6,763.40 C) $4,831.00 D) $7,440.00 If the company marks up its manufacturing costs by 40% then the selling price for Job T268 would be closest to: (Round your intermediate calculations to 2 decimal places.)


A) $1,932.40
B) $6,763.40
C) $4,831.00
D) $7,440.00

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

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Leeds 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: Leeds 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 T496 was completed with the following characteristics: Required: a. Calculate the estimated total manufacturing overhead for the year. b. Calculate the predetermined overhead rate for the year. c. Calculate the amount of overhead applied to Job T496. d. Calculate the total job cost for Job T496. e. Calculate the unit product cost for Job T496. Recently Job T496 was completed with the following characteristics: Leeds 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 T496 was completed with the following characteristics: Required: a. Calculate the estimated total manufacturing overhead for the year. b. Calculate the predetermined overhead rate for the year. c. Calculate the amount of overhead applied to Job T496. d. Calculate the total job cost for Job T496. e. Calculate the unit product cost for Job T496. Required: a. Calculate the estimated total manufacturing overhead for the year. b. Calculate the predetermined overhead rate for the year. c. Calculate the amount of overhead applied to Job T496. d. Calculate the total job cost for Job T496. e. Calculate the unit product cost for Job T496.

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a. Estimated total manufacturing overhea...

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Merati Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Merati Corporation has two manufacturing departments--Forming 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 L. 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. The manufacturing overhead applied to Job B is closest to: (Round your intermediate calculations to 2 decimal places.) A) $9,400 B) $25,160 C) $32,670 D) $34,560 During the most recent month, the company started and completed two jobs--Job B and Job L. There were no beginning inventories. Data concerning those two jobs follow: Merati Corporation has two manufacturing departments--Forming 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 L. 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. The manufacturing overhead applied to Job B is closest to: (Round your intermediate calculations to 2 decimal places.) A) $9,400 B) $25,160 C) $32,670 D) $34,560 Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. The manufacturing overhead applied to Job B is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $9,400
B) $25,160
C) $32,670
D) $34,560

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

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Stoke 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: Stoke 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 A460. The following data were recorded for this job: The amount of overhead applied in the Forming Department to Job A460 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $184,000.00 B) $184.00 C) $736.00 D) $664.00 During the current month the company started and finished Job A460. The following data were recorded for this job: Stoke 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 A460. The following data were recorded for this job: The amount of overhead applied in the Forming Department to Job A460 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $184,000.00 B) $184.00 C) $736.00 D) $664.00 The amount of overhead applied in the Forming Department to Job A460 is closest to: (Round your intermediate calculations to 2 decimal places.)


A) $184,000.00
B) $184.00
C) $736.00
D) $664.00

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

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Helland 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 the following data: Helland 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 the following data: The predetermined overhead rate is closest to: A) $2.50 per direct labor-hour B) $11.30 per direct labor-hour C) $6.30 per direct labor-hour D) $8.80 per direct labor-hour The predetermined overhead rate is closest to:


A) $2.50 per direct labor-hour
B) $11.30 per direct labor-hour
C) $6.30 per direct labor-hour
D) $8.80 per direct labor-hour

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

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In absorption costing, nonmanufacturing costs are assigned to units of product.

A) True
B) False

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