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Minstrel Manufacturing uses a job order costing system.During one month,Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect.Minstrel incurred a factory payroll of $150,000,of which $40,000 was indirect labor.Minstrel uses a predetermined overhead rate of 150% of direct labor cost.
-The total manufacturing costs added during the period is:
Money Market Securities
Short-term financial instruments, typically liquid and with high credit quality, traded in the money market involving assets like treasury bills, commercial paper, and certificates of deposit.
Collection Time
Refers to the average period it takes for a business to receive payments owed by its customers after a sale has been made.
Lockbox Fee
A charge imposed by banks for servicing and processing payments received in a lockbox, a service that accelerates the collection of receivables.
BAT Model
A framework for analyzing and understanding firms' strategic positions and potential competitive advantage.
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