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Which of the following statements is true when referring to fixed costs? Select one: a. Committed fixed costs arise from the annual decisions by management
Which of the following statements is true when referring to fixed costs? Select one: a. Committed fixed costs arise from the annual decisions by management b. Fixed costs increase in total throughout the relevant range C. : Discretionary fixed costs can often be reduced to zero for short periods of time without seriously impairing the long- run goals of the company d. As volume increases, unit fixed cost and total fixed cost will change The MRY company uses job order costing system and provides you the following data for the current period: Direct materials issued to production: $180,000 Indirect materials issued to production: $16,000 Direct labor cost: $214,000 Manufacturing overhead cost - applied: $226,000 Manufacturing overhead cost - actual: $250,000 There was no beginning and ending work in process and finished goods inventory. The company uses a predetermined overhead rate to apply manufacturing overhead to work in process (WIP) inventory. Based on the above information, what is the cost of goods manufactured of MRY Company? Select one: a. $644,000 b. $604,000 C. $660,000 d. $620,000
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