On June 30,2017,Roger,Inc

question 62

Multiple Choice

On June 30,2017,Roger,Inc.showed the following data on the equity section of their balance sheet:

On July 1,2017,the company declared and distributed a 8% stock dividend.The market value of the stock at that time was $13 per share.Following this transaction,what is the balance of Common Stock?

• A)$160,920
• B)$37,720
• C)$271,400
• D)$335,720

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Definitions:

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual units of production, based on a specific activity base.

Job Cost Sheets

Documents that track the costs associated with a specific job or project.

Machine Hours

A measure of production output or activity based on the cumulative hours that machines are operational.

Factory Overhead

All indirect costs associated with the production process, such as utilities, maintenance, and management salaries.