Direct Direct Direct Materials Labour Cost Labour Hours

question 66

Multiple Choice

Direct Direct Direct Materials Labour Cost Labour Hours
Job 400 $200 $800 40
Job 401 250 200 10
Job 402 500 600 32
Sparkle Company uses job costing and applies overhead using an actual costing system using direct labour hours as the allocation base. This period's estimated overhead cost is $400,000, estimated direct labour cost is $500,000 and estimated direct labour hours are 25,000. This period's actual overhead cost was $420,000, actual direct labour cost was $390,000, and actual direct labour hours were 20,000.
What is the overhead allocation rate?

• A)$21/hour
• B)$10/hour
• C)$16/hour
• D)$18/hour

Recognize the historical trends in global trade and shifts in the world's largest exporters.

Calculate and interpret trade balances, net exports, and their impact on GDP.

Analyze the effects of trade agreements on trade balances with specific countries.

Understand the impact of currency valuation on international trade.

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Definitions:

Assimilates

The process by which an individual incorporates new information into existing cognitive schemas or frameworks.

Schema

Mental structures or frameworks that organize and interpret information, guiding understanding and actions in the world.

Mediated Learning

A central concept in Vygotsky’s theory. The child’s acquisition of knowledge is “mediated” in the sense that it is highly influenced by the surrounding environment and culture.

Surrounding Culture

The shared values, beliefs, norms, and practices of a group of people that an individual is embedded within and influenced by.