Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company ba predetermined overhead rate for the current year on the following data: Total direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per direct labor-hour Recently, Job P513 was completed with the following characteristics: Number of units in the job i Total direct labor-hours Direct materials Direct labor cost The total job cost for Job P513 is closest to: $1,400 O $690 $900 O $1,210 10 20 50,000 $285,000 $ 3.80 $710 $ 500

Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company ba predetermined overhead rate for the current year on the following data: Total direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per direct labor-hour Recently, Job P513 was completed with the following characteristics: Number of units in the job i Total direct labor-hours Direct materials Direct labor cost The total job cost for Job P513 is closest to: $1,400 O $690 $900 O $1,210 10 20 50,000 $285,000 $ 3.80 $710 $ 500

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Description: Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company bapredetermined overhead rate for the current year on the following data:Total direct labor-hoursTotal f

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

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Chapter1: Financial Statements And Business Decisions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

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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Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company ba
predetermined overhead rate for the current year on the following data:
Total direct labor-hours
Total fixed manufacturing overhead cost
Variable manufacturing overhead per direct labor-hour
Recently, Job P513 was completed with the following characteristics:
Number of units in the job i
Total direct labor-hours
Direct materials
Direct labor cost
The total job cost for Job P513 is closest to:
$1,400
O $690
$900
O $1,210
10
20
50,000
$ 285,000
$ 3.80
$710
$ 500

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