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The predetermined overhead rate is determined as: Estimated overhead costs divided by estimated allocation base (eg direct labor hours) Actual overhead cost divided by estimated
The predetermined overhead rate is determined as: Estimated overhead costs divided by estimated allocation base (eg direct labor hours) Actual overhead cost divided by estimated allocation base (eg direct labor hours) Estimated overhead Costs divided by actual allocation base (eg actual direct labor hours) actual overhead costs divided by actual allocation base (eg actual direct labor hours) Do not cost their services using job costing techniques True O False The beginning in Finished Goods Inventory is $50,000, the ending balance in Finished Goods Inventory is $100,000 and the Cost of Goods Manufactured is $200,000. What is the Cost of goods Sold? $100,000 $250.000 O $150,000 None of the answers given Average cost is determined by total cost divided by number of units or hours in a service firm True False Jones & Company uses direct labor hours to allocate manufacturing overhead to their jobs using a pre-determined MOH. The following data is provided: Estimated overhead for the year $ 60,000 Expected direct labor hours to be incurred 4,000 Job 100 used direct material of $20,000 Job 100 incurred direct labor hours of 150 hours What is the total cost of job 100? $2,250 $20400 $20,000 $22,250
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