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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

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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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
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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