Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predeterminedoverhead rate for the current year on the following data:Total machine-hoursTotal fixed manufacturing overhead costVariable manufacturing overhead per machine-hourRecently, Job T687 was completed with the following characteristics:Number of units in the jobTotal machine-hoursDirect materialsDirect labor costMultiple ChoiceThe amount of overhead applied to Job T687 is closest to:Note: Round your intermediate calculations to 2 decimal places.Oо$690.00$577.80$789.001030$138.00$595$ 1,19032,100$ 577,800$5

Name: Lupo Corporation uses a job-order costing system with a single plantw
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Description: Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predeterminedoverhead rate for the current year on the following data:Total machine-hoursTotal fixed m

Overhead -The term "overhead" describes the continuous expenses of operating a firm that are not…

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Accounting

po Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company base verhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour ecently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 30 $ 595 $ 1,190 he amount of overhead applied to Job T687 is closest to: ote: Round your intermediate calculations to 2 decimal places. 32, 100 $ 577,800 $5

po Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company base verhead rate for the current year on the following data: Total machine-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour ecently, Job T687 was completed with the following characteristics: Number of units in the job Total machine-hours Direct materials Direct labor cost 10 30 $ 595 $ 1,190 he amount of overhead applied to Job T687 is closest to: ote: Round your intermediate calculations to 2 decimal places. 32, 100 $ 577,800 $5

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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Thatch 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 total fixed manufactruing overhead cost of $665,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. Recently, Job T321 was completed with the following characteristics: Number of units in the job 30 Total machine0hours 90 Direct materials $630 Direct labor cost $2,880 The unit product cost for Job T321 is closest to $154.50. How was this answer achieved? Can I see the breakdown of the formula?
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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $380 $ 270 39 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 152,000 $ 657,000…
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