Needham Company Uses a Job-Order Costing System The Company Applies Overhead at 120% of Direct Labor Cost

question 132

Multiple Choice

Needham Company uses a job-order costing system.During the month of September,the company worked on three jobs.The job-order cost sheets for the three jobs contained the following information at the end of September: $$\begin{array} { l r r r } & \text { Job A } & \text { Job B } & \text { Job C } \\\text { Beginning Balances } & \$ 4,000 &\$ 3 , 0 0 0 &\$ 6 , 0 0 0 \\\text { Direct Materials } & 1,000 & 1,600 & 2,000 \\\text { Direct Labor } & 2,400 & 4,600 & 1,800\end{array}$$
The company applies overhead at 120% of direct labor cost.
The total cost of Job A at the end of September was:

• A) $6,280.
• B) $10,280.
• C) $16,280.
• D) $11,720.

Analyze the impact of the product life cycle on strategic fit.

Identify the weaknesses of different strategic views within supply chain management.

Define the elements of scope of strategic fit.

Distinguish between the keys to the success or failure of a company.

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Definitions:

Contract Curve

In economics, a curve that shows the efficient allocations of goods or services that benefit two parties in an exchange, assuming no externalities.

Utility Function

A mathematical representation of how different combinations of goods or services produce levels of happiness or satisfaction for an individual or entity.

Pareto Optimal

A state of allocation of resources in which it is impossible to make any individual better off without making at least one individual worse off, indicating an efficient distribution of goods and resources.

Endowment

The total resources available to an individual or institution, including assets, capabilities, and financial means.