Maria's Custom Tailoring Is Very Labour Intensive

question 33

Multiple Choice

Maria's Custom Tailoring is very labour intensive.Therefore,Maria has decided to use direct labour hours as the cost driver for assigning service overhead costs to specific jobs.During the month of February,the company incurred overhead costs of $6000.Some 600 direct labour hours were expected to be used during the month.Total actual direct labour hours during the month totalled 800.What is the predetermined overhead rate per month,if based on direct labour hours?

• A) $ 10.00
• B) $ 7.50
• C) $ 0.75
• D) $ 0.101

Understand the basic legal nature and powers of corporations, including implied powers.

Recognize the requirements and implications of corporate naming conventions and incorporation.

Identify different structures and types of corporations in various jurisdictions.

Explain the legal concept of a corporation as a separate legal entity and its implications.

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Definitions:

Income Taxes

Government levies on the earnings of individuals and companies within their territory.

After-Tax Discount Rate

The discount rate used in investment or project valuation that accounts for the effects of taxes on the project's cash flows.

Straight-Line Depreciation

A method of allocating an asset's cost evenly over its useful life.

Initial Investments

The initial amount of money invested in a project, asset, or company to start operations or purchase assets.