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5) Ramjack manufacturing company uses job costing, absorbing overheads at 150% of direct labor cost. Data pertaining to recent operations during the month of January 2021 are as follows

5) Ramjack manufacturing company uses job costing, absorbing overheads at 150% of direct labor cost. Data pertaining to recent operations during the month of January 2021 are as follows

FINANCIAL ACCOUNTING
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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What is the answer for number 5?

8:20 M Accs 115 final exam (1) 4) When is material variance unfavorable? a) When the actual price is less than the standard price b) When the actual price paid is greater than the standard price c) When the actual quantity used is less than the standard quantity d) When the actual quantity used is greater than the standard quantity 5) Ramjack manufacturing company uses job costing, absorbing overheads at 150% of direct labor cost. Data pertaining to recent operations during the month of January 2021 are as follows Job#220$ Job #221 $ Direct materials 24,000 30,000 Direct Labor Costs 15,000 18,000 The overheads charged to job #220 is a) $18,000 b) $22,500 c) $30,000 d) $15,000
Transcribed Image Text:8:20 M Accs 115 final exam (1) 4) When is material variance unfavorable? a) When the actual price is less than the standard price b) When the actual price paid is greater than the standard price c) When the actual quantity used is less than the standard quantity d) When the actual quantity used is greater than the standard quantity 5) Ramjack manufacturing company uses job costing, absorbing overheads at 150% of direct labor cost. Data pertaining to recent operations during the month of January 2021 are as follows Job#220$ Job #221 $ Direct materials 24,000 30,000 Direct Labor Costs 15,000 18,000 The overheads charged to job #220 is a) $18,000 b) $22,500 c) $30,000 d) $15,000
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