Plasencia Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year Results of operations: Actual direct labor-hours Manufacturing overhead: Indirect labor cost other manufacturing overhead costs incurred Selling and administrative: Selling and administrative salaries Other selling and administrative expenses Cost of goods manufactured Sales revenue Cost of goods sold (unadjusted). The net operating income is: (Do not round your intermediate calculations.) Multiple Choice < Prev 10 of 10 42,000 direct labor-hours $ 177,000 $444,000 $ 280,000 $ 310,000 $1,501,000 $2,704,000 $1,416,000 $ 33,000 $635,500 41,000 direct labor-hours Next
Plasencia Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year Results of operations: Actual direct labor-hours Manufacturing overhead: Indirect labor cost other manufacturing overhead costs incurred Selling and administrative: Selling and administrative salaries Other selling and administrative expenses Cost of goods manufactured Sales revenue Cost of goods sold (unadjusted). The net operating income is: (Do not round your intermediate calculations.) Multiple Choice < Prev 10 of 10 42,000 direct labor-hours $ 177,000 $444,000 $ 280,000 $ 310,000 $1,501,000 $2,704,000 $1,416,000 $ 33,000 $635,500 41,000 direct labor-hours Next
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
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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:Plasencia Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of
Goods Sold at the end of the year. The company has supplied the following data for the just completed year.
Beginning inventories:
Finished goods
Estimated total manufacturing overhead at the beginning of the year
Estimated direct labor-hours at the beginning of the year
Results of operations:
Actual direct labor-hours
Manufacturing overhead:
Indirect labor cost
Other manufacturing overhead costs incurred
Selling and administrative:
Selling and administrative salaries
Other selling and administrative expenses
Cost of goods manufactured
Sales revenue
Cost of goods sold (unadjusted).
The net operating income is: (Do not round your intermediate calculations.)
Multiple Choice
< Prev 10 of 10
42,000 direct labor-hours
$
177,000
$ 444,000
$ 280,000
$ 310,000
$1,501,000
$2,704,000
$1,416,000
$ 33,000
$635,500
41,000 direct labor-hours
Next
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