The Following Information Is Available at the End of May

question 43

Multiple Choice

The following information is available at the end of May: $\begin{array}{lr}\text { Balance in work in process on May 1 } & \$ 141,800 \\\text { Direct materials costs for May } & 174,500 \\\text { Direct labor costs for May } & 162,500\\\text { Overhead applied at rate of } 140 \% \text { of direct labor dollars } \end{array}$

$\text { Jobs completed during May: }$

$\begin{array}{lr}\text { Job 84 } & \$ 198,780 \\\text { Job 85 } & 102,520 \\\text { Job 86 } & 119,450 \\\text { Job 87 } & 93,150\end{array}$

$\text { Job } 88 \text { was not complete at the end of May }$

If $72,400 of materials were charged to Job 88's job cost card,how much overhead was applied to Job 88?

• A) $35,100
• B) $70,000
• C) $72,400
• D) $120,000

Gain knowledge on the disclosure requirements for the Stockholders' equity section of the balance sheet.

Master the journalization of stock transactions including reacquisitions and sales.

Understand the taxation and legal entity designation options for limited liability companies.

Comprehend the conditions under which partners can withdraw assets.

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Definitions:

HOUR Function

A function in many programming and spreadsheet environments that extracts the hour from a given time value, typically returning it as a number between 0 and 23.

DAY Function

A function in spreadsheet software that extracts the day part from a date value, returning it as a numeric value.

DATE Function

A formula in spreadsheet software that generates a date value from individual year, month, and day components.

YEAR Function

A computing or spreadsheet function that extracts the year part from a date representation.