Willy's Wagons Manufactures Custom Carts for a Variety of Uses

question 59

Multiple Choice

Willy's Wagons manufactures custom carts for a variety of uses. The following data has been recorded for Job 531, which was recently completed. Direct materials used cost $12,900. There were 210 direct labour hours worked on this job at a direct labour wage rate of $20 per hour. There were 165 machine hours used on this job. The predetermined overhead rate is $32 per machine hour used. What is the total manufacturing cost of Job 531?

• A) $3,600
• B) $22,380
• C) $23,820
• D) $6,555

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Definitions:

Time To Expiration

The duration remaining until the expiration date of a financial instrument, such as an option or futures contract.

Stock Price

The current market price at which a share of a company's stock can be bought or sold.

Exercise Price

The cost at which an option's owner is allowed to purchase (for a call option) or offload (for a put option) the underlying asset or commodity.

Time Value

The additional amount that investors are willing to pay for an asset, based on the potential for it to increase in value over time.