Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of theyear to calculate predetermined overhead rates:Estimated total machine-hours (MHS)Estimated total fixed manufacturing overhead costEstimated variable manufacturing overhead cost per MHDirect materialsDirect labor costMachining machine-hoursCustomizing machine-hoursDuring the most recent month, the company started and completed two jobs-Job E and Job J. There were no beginning inventories. Data concerningthose two jobs follow:DATELL MaterialsDirect labor costMachining machine-hoursCustomizing machine-hoursMultiple ChoiceAssume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during themonth, the company's cost of goods sold for the month would be closest to:Note: Round your intermediate calculations to 2 decimal places.OO$102,600$61,450Job E$ 12,800$ 17,6003,4002,000$41,150$110,80812,000$ 17,600Job J$ 7,000$ 7,7001,6003,0003,4002,000Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during themonth, the company's cost of goods sold for the month would be closest to:Note: Round your intermediate calculations to 2 decimal places.Machining Customizing5,000$ 11,500$ 3.005,000$ 22,000$ 1.80$1,000$ 7,7001,6003,000Total10,000$ 33,500

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Description: Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of theyear to calculate predetermined overhead rates:Estimated total machine-hours (MHS)Estimated total fixed man

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Tancredi Corporation has two manufacturing departments-Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Direct materials Direct labor cost Machining machine-hours Customizing machine-hours During the most recent month, the company started and completed two jobs-Job E and Job J. There were no beginning inventories. Data concerning those two jobs follow: Job E $ 12,800 $ 17,600 3,400 2,000 Machining Customizing 5,000 $ 22,000 5,000 $ 11,500 $ 3.00 $ 1.80 Job J $ 7,000 $ 7,700 1,600 3,000 Total 10,000 $ 33,500 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to: Note: Round your intermediate calculations to 2 decimal places.

Tancredi Corporation has two manufacturing departments-Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Direct materials Direct labor cost Machining machine-hours Customizing machine-hours During the most recent month, the company started and completed two jobs-Job E and Job J. There were no beginning inventories. Data concerning those two jobs follow: Job E $ 12,800 $ 17,600 3,400 2,000 Machining Customizing 5,000 $ 22,000 5,000 $ 11,500 $ 3.00 $ 1.80 Job J $ 7,000 $ 7,700 1,600 3,000 Total 10,000 $ 33,500 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to: Note: Round your intermediate calculations to 2 decimal places.

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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