Cull Corporation Uses a Job-Order Costing System with a Single

question 102

Multiple Choice

Cull Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $462,000, variable manufacturing overhead of $2.20 per machine-hour, and 60,000 machine-hours. The company has provided the following data concerning Job X455 which was recently completed: The total job cost for Job X455 is closest to: (Round your intermediate calculations to 2 decimal places.)

• A) $3,972
• B) $1,732
• C) $3,180
• D) $3,032

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Definitions:

Vicarious Liability

The liability or responsibility imposed on a person, a party, or an organization for damages caused by another; most commonly used in relation to employment, with the employer held vicariously liable for the damages caused by its employees.

Litigation Misconduct

refers to inappropriate or unethical behavior by any party involved in the legal process, including attorneys, which can influence the outcome or process of litigation.

Joint Venture

An association between two or more parties wherein the parties share profits and management responsibilities with respect to a specific project.

Uniform Partnership Act

A model law enacted to standardize the law of business partnerships across the United States, governing the formation, operation, and dissolution of partnerships.