The Work in Process Inventory Account for Clinton Company for the Month

question 31

Essay

The Work in Process Inventory account for Clinton Company for the month ended September 30 appears below.
Overhead is applied based on direct labor dollars.Direct material costs for the one job remaining in work in process on September 30 was $12,300.
a.What was the overhead rate used to apply overhead to jobs?
b.Determine the amount of direct labor charged to the one remaining job.Round you answers to nearest dollars.

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Definitions:

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on various criteria.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the amount they actually receive.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets.

Seniors

Older adults, typically those aged 65 and above, who may qualify for certain benefits and considerations due to their age.