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Stoke Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: During the current month the company started and finished Job A460. The following data were recorded for this job:
The amount of overhead applied in the Assembly Department to Job A460 is closest to: (Round your intermediate calculations to 2 decimal places.)
Supplier
A party that provides goods or services to another entity, typically in a B2B (business-to-business) relationship.
Current Ratio
A liquidity ratio that measures a company's ability to pay short-term obligations, calculated by dividing current assets by current liabilities.
Asset Turnover Ratio
A financial metric that measures how efficiently a company uses its assets to generate sales revenue.
Receivables Turnover Ratio
A financial ratio indicating how efficiently a company collects on its accounts receivable, calculated as net credit sales divided by average accounts receivable.
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