Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: $285,600 Overhead 84,000 Machine hours 10,200 Direct labour hours Actual : $285,000 Overhead 82,200 Machine hours 9,930 Direct labour hours $1,050,000 Prime cost 150,000 Number of units $285,600 What was the applied overhead for last year? Select one: a. $287,040 b. Insufficient information for calculation c. $278,440 d. $278,040
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Budgeted: $285,600 Overhead 84,000 Machine hours 10,200 Direct labour hours Actual : $285,000 Overhead 82,200 Machine hours 9,930 Direct labour hours $1,050,000 Prime cost 150,000 Number of units $285,600 What was the applied overhead for last year? Select one: a. $287,040 b. Insufficient information for calculation c. $278,440 d. $278,040
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which one is the correct answer?
Transcribed Image Text:Ripley, Inc., costs products using a normal costing
system. The following data are available for
last year:
Budgeted:
$285,600
Overhead
84,000
Machine hours
10,200
Direct labour hours
Actual :
$285,000
Overhead
82,200
Machine hours
9,930
Direct labour hours
$1,050,000
Prime cost
150,000
Number of units
$285,600
What was the applied overhead for last year?
Select one:
a. $287,040
b. Insufficient information for calculation
c. $278,440
d. $278,040
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