chapter 16 quiz

chapter 16 quiz - 1 Question: Clyde Company gathered the...

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1 Question: Clyde Company gathered the following information for the year ended December 31, 2009 Direct labor cost incurred $165,000 Estimated manufacturing overhead costs $231,000 Estimated direct labor cost $3,080,000 Work in process inventory, Dec, 31, 2009 $50,000 Finished goods inventory, Dec. 31, 2009 $65,000 Cost of goods sold $135,000 Estimated direct labor hours 308,000 Clyde Company uses a job costing system. What would the predetermined manufacturing overhead rate be, using direct labor hours as the allocation base? $.75 per hour $1.87 per hour $1.40 per hour $.54 per hour Question 2 - True/FalseID: 5630466 - Correct Question: Service firms follow the same approach as manufacturing companies to develop a predetermined indirect cost allocation rate. True False Question 3 - Multiple ChoiceID: 5630455 - Correct
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2 Question: Daniel Company's manufacturing overhead account showed a $4,500 overallocated balance at the end of 2005. Actual overhead incurred was $95,000. Other accounts showed the
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This note was uploaded on 03/25/2012 for the course EAC 2212 taught by Professor Whitaker during the Spring '10 term at FIT.

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chapter 16 quiz - 1 Question: Clyde Company gathered the...

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