Lupo 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: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours 10 20 $ 590 $ 1,180 The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor cost Multiple Choice O $380.00 $425.60 30,400 $ 425,600 $5 $466.00
Lupo 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: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Recently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours 10 20 $ 590 $ 1,180 The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor cost Multiple Choice O $380.00 $425.60 30,400 $ 425,600 $5 $466.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Lupo 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:
Total machine-hours
Total fixed manufacturing overhead cost
Variable manufacturing overhead per machine-hour
Recently, Job T687 was completed with the following characteristics:
:
Number of units in the job
Total machine-hours
Direct materials
$590
Direct labor cost
$ 1,180
The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
Multiple Choice
$380.00
$425.60
10
20
$466.00
30,400
$ 425,600
$ 5
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