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tino4ka555 [31]
3 years ago
13

Lueckenhoff Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labo

r-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours.
The company has provided the following data concerning Job T498 which was recently completed: Number of units in the job 40 Total direct labor-hours 80 Direct materials $ 950 Direct labor cost $ 2,720 The amount of overhead applied to Job T498 is closest to:
a. $568
b. $192
c. $760
d. $952
Business
1 answer:
Rzqust [24]3 years ago
3 0

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Fixed manufacturing overhead cost of $497,000, variable manufacturing overhead of $2.40 per direct labor-hour, and 70,000 direct labor-hours.

T 498:

Total direct labor-hours 80

First, we need to calculate the estimated manufacturing overhead rate for the period:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (497,000/70,000) + 2.4= $9.5 per direct labor hour.

Now we can allocate the overhead to Job 498:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 9.5*80= $760

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<h3>What do you mean by Marginal Propensity to consume?</h3>

The marginal propensity to consume is refers to as the proportion of any change in income that is spent on consumption.

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Calculation:

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<h3>What is the meaning of trade credit?</h3>

A business-to-business (B2B) agreement known as trade credit allows customers to make purchases of goods without paying in cash upfront and to make payments to suppliers at a later date. Businesses that use trade credits typically give customers 30, 60, or 90 days to make payment, with the transaction being documented by an invoice.

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5 0
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Explain business activities and classification ?<br><br>​
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7 0
3 years ago
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Answer:

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7 0
3 years ago
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