Use the Following Information for the Next 2 Questions

question 73

Multiple Choice

Use the following information for the next 2 questions. Allen's Accounting Services uses job costing and applies overhead using a normal costing system using professional labor hours as the allocation base. This period's estimated overhead cost is $400,000, estimated professional labor cost is $800,000 and estimated direct labor hours are 8,000. This period actual overhead cost was $426,400, actual direct labor cost was $820,000, and actual direct labor hours were 8,200.
-What is the total cost for Client 58?

• A) $1,300
• B) $1,200
• C) $1,720
• D) $1,700

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Definitions:

Exercise Price

The predetermined price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset.

Stock Volatility

A statistical measure of the dispersion of returns for a given stock or market index, typically used to quantify the risk of a stock or market's return.

Exercise Price

The specified price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying asset.

Time To Expiration

The period remaining until the expiration date of a contract, such as an option or futures contract.