Answer the Following Questions Using the Information Below

question 152

Multiple Choice

Answer the following questions using the information below:
Gibson Manufacturing is a small textile manufacturer using machine-hours as the single indirect-cost rate to allocate manufacturing overhead costs to the various jobs contracted during the year. The following estimates are provided for the coming year for the company and for the Winfield High School band jacket job.

-What is the bid price for the Winfield High School job if the company uses a 40% markup of total manufacturing costs?

• A)$2,310
• B)$588
• C)$1,680
• D)$2,058

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Definitions:

Experience

The knowledge or practical wisdom gained from direct observation of or participation in events or activities.

Frequency

The number of occurrences of a repeating event per unit of time, or in psychology, often refers to the rate of particular behaviors or symptoms.

Pitch

The perceived frequency of a sound or note, often determining its highness or lowness.

Loudness

The perception of the intensity of sound, typically measured in decibels, affecting how loud or soft we perceive a sound to be.