The Following Information Is Available at the End of May

question 33

Multiple Choice

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

$\text { Jobs completed during May: }$
$\begin{array}{lr}\text { Job 84 } & \$ 198,780 \\\text { Job 85 } & 102,520 \\\text { Job 86 } & 119,450 \\\text { Job 87 } & 93.150\end{array}$

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

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Definitions:

T-tests

Statistical tests used to compare the means of two groups and determine if they are significantly different from each other.

Statistically Different

Being statistically different means that observed differences between groups or variables in a study are unlikely to have occurred by chance, according to statistical analysis. This distinction supports the idea that the observed effects reflect true differences in the populations being studied.

Correlation Coefficients

Statistical measures that quantify the direction and strength of the relationship between two numerical variables.

Continuous Variables

Variables that can take on an infinite number of values within a given range, representing quantities that can be divided into finer units.