Calculate the unknowns for the following independent situations.
1)Selected data for Lion Corporation:
Allocated manufacturing overhead is based on 50% of direct labor cost.
a)Calculate the allocated manufacturing overhead cost.
b)Calculate the direct labor cost.
2)Selected data for Tiger Corporation:
Manufacturing overhead is allocated at $15 per machine hour.
a)Calculate the allocated manufacturing overhead cost.
b)Calculate the number of machine hours incurred.
Definitions:
Organization Policy
Guidelines, rules, and procedures established by an organization to regulate its operations and guide the behavior of its members.
Study Ethics
The examination of moral principles and issues arising in educational environments, focusing on fairness, honesty, and respect.
Virtue
A trait or quality deemed to be morally good and thus is valued as a foundation of good moral being.
Prudence
The practice of being careful, cautious, and wise in handling practical matters, considering the future consequences of actions.
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