5) Munist, Corporation has two production departments, Forming and Finishing. 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 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: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Job T617: Machine-hours Forming Direct labor-hours Direct materials Direct labor cost S 18,000 2,000 Forming 99,000 During the current month the company started and finished Job T617. The following data were recorded for this job: 2.10 Finishing 90 30 940 960 Finishing The total job cost for Job T617 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $5,604 B) $2,584 C) $684 Di $3.020 14,000 8,000 70,400 3.70 20 60 350 1,920

5) Munist, Corporation has two production departments, Forming and Finishing. 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 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: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Job T617: Machine-hours Forming Direct labor-hours Direct materials Direct labor cost S 18,000 2,000 Forming 99,000 During the current month the company started and finished Job T617. The following data were recorded for this job: 2.10 Finishing 90 30 940 960 Finishing The total job cost for Job T617 is closest to: (Round your intermediate calculations to 2 decimal places.) A) $5,604 B) $2,584 C) $684 Di $3.020 14,000 8,000 70,400 3.70 20 60 350 1,920

Name: 5) Munist, Corporation has two production departments, Forming and Fi
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Description: 5) Munist, Corporation has two production departments, Forming and Finishing. The company uses a job-order costing systemand computes a predetermined overhead rate in each production department. The Forming Department's predetermined overheadrate is

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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