Alex Constructors Uses Job-Order Costing for Production of Custom Playground

question 101

Short Answer

Alex Constructors uses job-order costing for production of custom playground sets. The company incurred the following costs during March: $\begin{array}{ll}\text { Direct materi als used } & \$ 22,000 \\\text { Direct labor } & \$ 14,000 \\\text { Applied overhead } & \$ 18,000 \\\text { Actual overhead } & \$ 20,000\end{array}$ If Alex Constructors closes out any under or overapplied overhead directly to cost of goods sold, which entry will the company make to eliminate the over or underapplied amount in March? $\begin{array}{ll}A.&\text {Cost of Goods Sold }&2,000\\&\text { Work in Process Inventory}&&2,000\\B.&\text {Manufacturing Overhead }&2,000\\&\text {Work in Frocess Inventory }&&2,000\\C.&\text { Manufacturing Overhead}&2,000\\&\text { Cost of Goods Sold}&&2,000\\D.&\text { Cost of Goods Sold}&2,000\\&\text {Manufacturing Overhead }&&2,000\\\end{array}$

Grasp the concept of calculated controls and their creation.

Differentiate between the data contained in controls and the controls themselves.

Understand the methods for aligning and formatting controls in Form Design View.

Know how to apply formatting properties to report controls.

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Definitions:

Stages of Development

Distinct phases in the growth process of beings or systems, marked by specific attributes or achievements.

Organizational Hierarchy

The arrangement of individuals within an organization according to power, status, and job function, often visualized as a pyramid structure.

Self-managed Teams

Groups of employees who are responsible for managing their work and the processes leading to the completion of their goals without direct supervision.

Managerial Layers

Describes the levels of management hierarchy within an organization, from frontline managers to top executives.