Forsyth,Inc The Number of Direct Labor Hours Worked During the Period

question 107

Multiple Choice

Forsyth,Inc.uses estimated direct labor hours of 240,000 and estimated manufacturing overhead costs of $1,150,000 in establishing its predetermined overhead allocation rate for the year.Actual results showed the following: $$\begin{array} { | l | l | } \hline \text { Actual manufacturing overhead } & \$ 800,000 \\\hline \text { Allocated manufacturing overhead } & \$ 825,000 \\\hline\end{array}$$ The number of direct labor hours worked during the period was ________.(Round any intermediate calculations to two decimal places,and your final answer to the nearest whole number.)

• A)240,000 hours
• B)172,234 hours
• C)167,015 hours
• D)232,727 hours

Describe the demand curve faced by a monopolistically competitive firm.

Assess the potential for government intervention in monopolistically competitive markets to correct inefficiencies.

Understand the concept of excess capacity in monopolistically competitive firms.

Grasp the welfare implications of monopolistic competition versus perfect competition.

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Definitions:

Performance Opportunities

Situations or circumstances that allow individuals or organizations to showcase or enhance their abilities and results.

Systematic Thinkers

Individuals who approach problems or situations with a methodical and logical process, often considering the overall structure, function, and order.

Strategic Opportunism

The ability to remain focused on long-term objectives while being flexible in dealing with short-term problems.

Long-term Objectives

Goals or targets set to be achieved over an extended period, typically looking several years into the future.