Kubes Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $90,000, variable manufacturing overhead of $3.50 per direct labor-hour, and 30,000 direct labor-hours. The company has provided the following data concerning Job A477 which was recently completed:
-The estimated total manufacturing overhead for the Assembly Department is closest to:
Definitions:
Promissory Note
A financial instrument involving a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.
Credit Instrument
A document that represents a legal agreement involving any kind of financial credit or loan arrangement, including promissory notes, bonds, and letters of credit.
Payee
A person to whom a payment is made or is made payable.
Bearer Paper
A negotiable instrument that entitles the holder or bearer to receive the face value of the document upon presentation.
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