Use the Following Information for the Next 4 Questions

question 88

Multiple Choice

Use the following information for the next 4 questions.
Rayfield Company's management accountant collected the following inventory and transaction data for the month: The cost of goods available for sale was $1,370. Total manufacturing costs assigned to work-in-process during the month was $1,170. Manufacturing overhead was $334; and direct materials used were $386.
-Over- or underapplied overhead for September was

• A) $800 underapplied
• B) $800 overapplied
• C) $1,600 underapplied
• D) $1,600 overapplied

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Definitions:

Payroll Tax

Assessments collected from employers or employees, typically proportional to the salaries that workers are paid.

Labor Market

A marketplace where employers find workers and workers find jobs, involving the exchange of labor for compensation.

Payroll Tax

A tax imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff.

Per-hour Wage

The amount of money paid to an employee for each hour of work.