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.

Identify the components that affect the cash balance per books and per bank.

Analyze how specific transactions impact the adjusted cash balance per books.

Understand the anatomy of the respiratory system, including the identification of its major segments and structures.

Recognize the physiological processes involved in respiration, including gas exchange and the roles of different respiratory structures.

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Definitions:

Social Organization

The structured arrangement of societal institutions and groups, shaping how members of a society interact and function together.

Economy

An organized system of production, distribution, and consumption of goods and services within a particular geographical region.

Division of Labour

The allocation of different parts of a manufacturing process or task to different individuals or groups, often to increase efficiency and productivity.

Labour Market Segmentation

Is the division of the market for labour into distinct settings. In these settings, work is found in different ways and workers have different characteristics. There is only a slim chance of moving from one setting to another.