Arless Company applies manufacturing overhead on the basis of direct labour hours. It estimated that total direct labor hours will be 100,000 hours and total manufacturing overhead will be $500,000. Job #123 has accumulated direct materials of $10,000 and direct labour of $20,000. The hourly rate paid for direct laboris $20 per hour. What is the total cost of Job #123? Select one: o Not enough information to determine this $30,200 $35,000 $30,000 XYZ purchased $100,000 of raw materials which included $15,000 of indirect materials. XYZ then issues $90,000 of raw materials to production which included $5,000 of indirect materials. The entry to record the issue of raw materials to production is: Select one: debit raw materials $100,000 and credit WIP $100,000 Debit work in process inventory $85,000, debit MOH $5,000 and credit raw materials inventory $90,000 Debit work in process inventory $90,000 and credit raw materials inventory $90,000 Debit work in process inventory $85,000, credit raw materials inventory $90,000 and credit MOH $5,000 Which of the following questions could be answered with managerial accounting information? Select one: O All of these O Should a company borrow money or issue shares? Should a money losing division be closed? Should a bank lend money to a company? ABC applies manufacturing overhead to products on the basis of direct labour hours. Estimated manufacturing overhead for the period was $1,000,000 and estimated direct labour hours was 200,000 hours. Actual manufacturing overhead was $800,000 and actual direct labour hours were 200,000 hours. The manufacturing overhead was Select one: none of these O underapplied by $200,000 overapplied by $200,000 neither underapplied nor overapplied The choice of an allocation base (denominator) in the predetermined manufacturing overhead rate in a job order.costing environment Select one: O should be the one that drives manufacturing overhead costs should be the number of jobs produced should be machine hours should be direct labour hours Which of the following statements is true? Select one: Global competition has forced companies to find new ways of doing business Companies have adopted different kinds of improvement programs which fall under the umbrellas of the lean business model All of these Companies must offer better products/services and deliver them faster and at a cheaper price