The Following Data Have Been Recorded for Recently Completed Job

question 67

Multiple Choice

The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,057. A total of 37 direct labor-hours and 194 machine-hours were worked on the job. The direct labor wage rate is $24 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $33 per machine-hour. The total cost for the job on its job cost sheet would be:

• A) $6,303
• B) $6,722
• C) $9,347
• D) $11,492

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Definitions:

Social Categorisation

The process of classifying people into groups based on shared characteristics, which can simplify social perception but also contribute to stereotyping.

Relative Homogeneity Effect

The tendency to perceive members of an out-group as more similar to each other than members of the in-group, often leading to stereotyping.

Ingroup Members

Individuals who belong to the same group or category as one perceives oneself, often feeling a sense of solidarity and common identity with them.

Outgroup Members

Individuals who are perceived as not belonging to one's own group, often leading to distinction and bias against them.