The method that first traces costs to a department and then to products is called Oa. absorption costing. Ob. direct costing. O c. indirect costing. O d. unit-based costing. h eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false The costs of a completed job are transferred from the work-in-process inventory account to the finished goods inventory account. O True False The following information is available pertaining to the Production Division of Clarkson Enterprises: Finishing Dept. Overhead costs Assembly Dept. $7,500 Total $22,500 Direct labor hours $30,000 7,500 2,500 Machine hours 10,000 2,500 7,500 10,000 Production information pertaining to Job 4X5: Assembly Dept. Finishing Dept. Total Prime costs $1,250 $0 $1,250 Direct labor hours 250 0 250 Machine hours 0 0 0 Units produced 500 0 500 Using the plantwide overhead rate based on direct labor hours what is the cost of Job 4X5? Oa. $1,250 Ob. $8,750 Oc. $2,000 Od. $31,250 Salvador Company has developed capacity standards. Information is as follows for a value-added activity: 60 Activity capacity acquired Activity capacity used Actual activity used Standard fixed activity rate 50 30 $2,000 The unused capacity variance is O a. There is no variance. Ob. $40,000 favorable. Oc. $60,000 favorable. Od. $20,000 favorable. The method that first traces costs to a department and then to products is called Oa. absorption costing. Ob. direct costing. O c. indirect costing. O d. unit-based costing. h eAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false The costs of a completed job are transferred from the work-in-process inventory account to the finished goods inventory account. O True False The following information is available pertaining to the Production Division of Clarkson Enterprises: Finishing Dept. Overhead costs Assembly Dept. $7,500 Total $22,500 Direct labor hours $30,000 7,500 2,500 Machine hours 10,000 2,500 7,500 10,000 Production information pertaining to Job 4X5: Assembly Dept. Finishing Dept. Total Prime costs $1,250 $0 $1,250 Direct labor hours 250 0 250 Machine hours 0 0 0 Units produced 500 0 500 Using the plantwide overhead rate based on direct labor hours what is the cost of Job 4X5? Oa. $1,250 Ob. $8,750 Oc. $2,000 Od. $31,250 Salvador Company has developed capacity standards. Information is as follows for a value-added activity: 60 Activity capacity acquired Activity capacity used Actual activity used Standard fixed activity rate 50 30 $2,000 The unused capacity variance is O a. There is no variance. Ob. $40,000 favorable. Oc. $60,000 favorable. Od. $20,000 favorable