The Following Selected Data Were Taken from the Books of the Owens

question 30

Multiple Choice

The following selected data were taken from the books of the Owens O-Rings Company. The company uses job costing to account for manufacturing costs. The data relate to April operations.
(1) Materials and supplies were requisitioned from the stores clerk as follows:
Job 405, material X, $7,000.
Job 406, material X, $3,000; material Y, $6,000.
Job 407, material X, $7,000; material Y, $3,200.
For general factory use: materials A, B, and C, $2,300.
(2) Time tickets for the month were chargeable as follows:
$\begin{array}{lrr}\text { Job 405 } & \$ 11,000&\text { 3,000hours } \\\text { Job 406 } & 14,000&\text { 3,600hours } \\\text { Job 407 } & 8,000&\text { 1,900hours } \\\text { Indirect labor } & 3,700\end{array}$

(3) Other information:
Factory paychecks for $36,700 were issued during the month.
Various factory overhead charges of $19,400 were incurred on account.
Depreciation of factory equipment for the month was $5,400.
Factory overhead was applied to jobs at the rate of $3.50 per direct labor hour.
Job orders completed during the month: Job 405 and Job 406.
Selling and administrative costs were $2,100.
Factory overhead is closed out only at the end of the year.
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If Job 406 was sold on account for $41,500, how much gross profit would be recognized for the job?

• A) $3,800.
• B) $5,900.
• C) $18,500.
• D) $35,600.

Understand the variability and flexibility in health and safety laws across different jurisdictions within Canada.

Acknowledge workers' compensation as a support system for individuals affected by workplace accidents, including mental health considerations.

Comprehend the role and responsibilities of crisis management teams within an organization.

Recognize the prevalence and significance of formal safety programs in Canadian workplaces.

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Definitions:

Power Analysis

A statistical technique used to determine the sample size required to detect an effect of a given size with a certain degree of confidence.

Empirical Reasoning

The process of drawing conclusions based on observation or experience rather than theory or pure logic.

Experimental Group

The group in an experiment that receives the treatment or intervention, allowing researchers to measure the effect of that intervention.