IBVO ryCosling method. Both keep track of prime costs, but mot overhond items Both use the same manufacturing technique. Both require inputs of direct materials, direct lahor, snd overtiead. lorma o wik signu 31 The basic inventory equation can be represented by a. BB + TI-TO+ ER. K BB- TI- TO + ER. BB + EB- TI + TO. d. BB +TO- TI- EB uld b Fetler C. of th Chapter 7 fitet 32. Which of the following is NOT An audit engagement. b A home renovation, E Aast food order. d. A lawsuit co ol The following information is for questions 33 -34. KC Manufacturing uses job costing. Its annual estimated manufacturing overhead and machine hours (the allocation base) were $120.000 and 2,400 hours, respectively. Job#06-07 was completed in July and incurred direct mnteriais S4,R00, direct labor $3,400, and 85 machine hours, 33. What is the predetermined overhead rate for KC Manufacturing? a $35 per direct labor hour. b. $45 per direet labor dollar. . $50 per machine hour. d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 b. $24,750 c. $22,050 d. $12.450

IBVO ryCosling method. Both keep track of prime costs, but mot overhond items Both use the same manufacturing technique. Both require inputs of direct materials, direct lahor, snd overtiead. lorma o wik signu 31 The basic inventory equation can be represented by a. BB + TI-TO+ ER. K BB- TI- TO + ER. BB + EB- TI + TO. d. BB +TO- TI- EB uld b Fetler C. of th Chapter 7 fitet 32. Which of the following is NOT An audit engagement. b A home renovation, E Aast food order. d. A lawsuit co ol The following information is for questions 33 -34. KC Manufacturing uses job costing. Its annual estimated manufacturing overhead and machine hours (the allocation base) were $120.000 and 2,400 hours, respectively. Job#06-07 was completed in July and incurred direct mnteriais S4,R00, direct labor $3,400, and 85 machine hours, 33. What is the predetermined overhead rate for KC Manufacturing? a $35 per direct labor hour. b. $45 per direet labor dollar. . $50 per machine hour. d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 d. Cannot be determined. 34. What's the total cost for Job#06-07? a. $9,350 b. $24,750 c. $22,050 d. $12.450

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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