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

question 143

Multiple Choice

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 amount of overhead applied in the Assembly Department to Job T288 is closest to:

• A) $508.00
• B) $101,600.00
• C) $388.00
• D) $120.00

Calculate the present value of an annuity.

Understand the relationship between interest rates and investment viability.

Understand the concept of marginal revenue product (MRP) and how it is calculated.

Analyze the relationship between marginal product, labor input, and the derived demand for labor.

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Definitions:

Frequency Polygon

A graphical representation of the distribution of numerical data. It is a line graph of class frequencies plotted against mid-point values.

Normal Distribution

A bell-shaped distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence.

Outliers

Data points that significantly differ from other observations in a dataset, potentially indicating a measurement error or a different underlying process.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution of data, aiming to provide a description of the set’s overall behavior.