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Kroeker Corporation Has Two Production Departments, Milling and Customizing

question 23

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Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing 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: Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing 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 T898. The following data were recorded for this job:   The amount of overhead applied in the Customizing Department to Job T898 is closest to: (Round your intermediate calculations to 2 decimal places.)  A)  $450.00 B)  $119,700.00 C)  $665.00 D)  $215.00 During the current month the company started and finished Job T898. The following data were recorded for this job:
Kroeker Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing 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 T898. The following data were recorded for this job:   The amount of overhead applied in the Customizing Department to Job T898 is closest to: (Round your intermediate calculations to 2 decimal places.)  A)  $450.00 B)  $119,700.00 C)  $665.00 D)  $215.00 The amount of overhead applied in the Customizing Department to Job T898 is closest to: (Round your intermediate calculations to 2 decimal places.)


Definitions:

Section 12(a)(2)

A provision under the Securities Act of 1933 that provides a remedy for investors who have been sold securities by means of a prospectus or oral communication containing a material misstatement or omission.

Securities Act of 1933

A U.S. federal law enacted to require transparency in financial statements so investors can make informed decisions regarding securities investments; it also introduced regulations to prevent fraud.

Public Distribution

The system of distributing goods and services to the public through government channels, often at subsidized rates.

Privity of Contract

A legal principle indicating that only the parties involved in the contract have the rights and obligations under it.

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