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Question: 1 Greenfield Manufacturing has two production departments: X and Y. The production overhead distributed is $20,000 for Department X and $12,000 for Department Y. Department X consumes a total of 8,000 labor hours, while Department Y consumes 6,000 labor Assuming labor hours as the allocation base, what is the overhead rate for Department X? hours. A) $2.10 B) $2.00 C) $1.67 D) $3.00 Question: 2 Ridgeway Industries uses a predetermined overhead rate of 120% of direct labor cost. During the month, Apex incurred $150,000 in total factory labor costs, of which $120,000 is direct labor and $30,000 is indirect labor. The actual manufacturing overhead incurred was $140,000. Compute the amount of manufacturing overhead applied during the month. Question: 3 Techtronic Enterprises has fixed monthly expenses of $35,000, and its contribution margin ratio is 65%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $120,000? a. $30,000 b. $45,000 c. $50,000 d. $40,000

Question: 1 Greenfield Manufacturing has two production departments: X and Y. The production overhead distributed is $20,000 for Department X and $12,000 for Department Y. Department X consumes a total of 8,000 labor hours, while Department Y consumes 6,000 labor Assuming labor hours as the allocation base, what is the overhead rate for Department X? hours. A) $2.10 B) $2.00 C) $1.67 D) $3.00 Question: 2 Ridgeway Industries uses a predetermined overhead rate of 120% of direct labor cost. During the month, Apex incurred $150,000 in total factory labor costs, of which $120,000 is direct labor and $30,000 is indirect labor. The actual manufacturing overhead incurred was $140,000. Compute the amount of manufacturing overhead applied during the month. Question: 3 Techtronic Enterprises has fixed monthly expenses of $35,000, and its contribution margin ratio is 65%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $120,000? a. $30,000 b. $45,000 c. $50,000 d. $40,000

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...
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Question: 1 Greenfield Manufacturing has two production departments: X and Y. The production overhead distributed is $20,000 for Department X and $12,000 for Department Y. Department X consumes a total of 8,000 labor hours, while Department Y consumes 6,000 labor Assuming labor hours as the allocation base, what is the overhead rate for Department X? hours. A) $2.10 B) $2.00 C) $1.67 D) $3.00 Question: 2 Ridgeway Industries uses a predetermined overhead rate of 120% of direct labor cost. During the month, Apex incurred $150,000 in total factory labor costs, of which $120,000 is direct labor and $30,000 is indirect labor. The actual manufacturing overhead incurred was $140,000. Compute the amount of manufacturing overhead applied during the month. Question: 3 Techtronic Enterprises has fixed monthly expenses of $35,000, and its contribution margin ratio is 65%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $120,000? a. $30,000 b. $45,000 c. $50,000 d. $40,000
Transcribed Image Text:Question: 1 Greenfield Manufacturing has two production departments: X and Y. The production overhead distributed is $20,000 for Department X and $12,000 for Department Y. Department X consumes a total of 8,000 labor hours, while Department Y consumes 6,000 labor Assuming labor hours as the allocation base, what is the overhead rate for Department X? hours. A) $2.10 B) $2.00 C) $1.67 D) $3.00 Question: 2 Ridgeway Industries uses a predetermined overhead rate of 120% of direct labor cost. During the month, Apex incurred $150,000 in total factory labor costs, of which $120,000 is direct labor and $30,000 is indirect labor. The actual manufacturing overhead incurred was $140,000. Compute the amount of manufacturing overhead applied during the month. Question: 3 Techtronic Enterprises has fixed monthly expenses of $35,000, and its contribution margin ratio is 65%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $120,000? a. $30,000 b. $45,000 c. $50,000 d. $40,000
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