Questions
SU25-BL-BUS-A325-5063 Practice Test #1
Single choice
Job-costing is likely to be used by:
Options
A.Oil refining companies
B.Advertising agencies
C.Mortgage payment processors
D.Breakfast cereal producers
View Explanation
Verified Answer
Please login to view
Step-by-Step Analysis
The question asks which type of business is most likely to use job costing.
Option 1: Oil refining companies. In oil refining, production tends to be continuous and uniform, with costs allocated across large batches using process costing rather than tracking individual jobs. Th......Login to view full explanationLog in for full answers
We've collected over 50,000 authentic exam questions and detailed explanations from around the globe. Log in now and get instant access to the answers!
Similar Questions
Mickley Company’s plantwide predetermined overhead rate is $22.00 per direct labor-hour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A-500: Direct materials $ 270 Direct labor $ 130 Required: What is the total manufacturing cost assigned to Job A-500? If Job A-500 consists of 40 units, what is its unit product cost? Note: Round your answer to 2 decimal places.
Question at position 13 In the context of Job R-200 at Wave Innovations Inc., the plantwide predetermined overhead rate is $32.00 per direct labor-hour and the direct labor wage rate is $160 per hour and additional detials are provided in the table below. What is the total manufacturing cost allocated to Job R-200? [table] Direct Materials | $26,500 Direct Labor | $32,000 # of units in Job R-200 | 200 [/table] $58,660 $17,060$64,900 $32,450
SparkCrafters is a custom jeweller that uses job costing to track production costs. For Job #312, a custom-designed sapphire necklace, the following data is available: Direct materials used: $7,500 Direct labour costs: $3,600 Direct labour rate: $45/hour Predetermined overhead rate: $35 per direct labour hour The company also spent $1,500 on social media promotion and $800 on post-sale customer service and gift packaging. Required: What is the applied overhead for Job #312? Show your final answer to the nearest dollar.
Richmond Corporation uses a job costing system with a plantwide overhead rate based on machine hours (MH). All Jobs Estimated Actual Total machine time 4 000 MH 4 200 MH Manufacturing overhead cost for the period $100 000 $90 000 The data for Job 50 is: Job 50 Actual Revenue derived $1 350 Direct material cost $300 Direct labour cost $150 Machine hours used 20 MH Using the information provided, calculate the gross profit for Job 50 (in dollars), using normal costing. Express your answer to the nearest dollar.
More Practical Tools for International Students
Making Your Study Simpler
Join us and instantly unlock extensive past papers & exclusive solutions to get a head start on your studies!