Austin Company Uses a Job Order Cost Accounting System

question 7

Multiple Choice

Austin Company uses a job order cost accounting system. The company's executives estimated that direct labor would be $2,000,000 (200,000 hours at $10/hour) and that factory overhead would be $1,500,000 for the current period. At the end of the period, the records show that there had been 180,000 hours of direct labor and $1,200,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead allocation rate?

• A) $6.00 per direct labor hour.
• B) $7.50 per direct labor hour.
• C) $6.67 per direct labor hour.
• D) $8.33 per direct labor hour.
• E) $7.08 per direct labor hour.

Explain the phenomena of memory recall, recognition, and relearning.

Analyze the impact of context and emotional state on memory recall.

Appreciate the practical applications of memory research in everyday situations.

Understand the concept and types of long-term memory.

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Definitions:

Transactions Costs

Expenses incurred during the purchase or sale of goods and services, which may include commissions, fees, and other charges.

Investors

Individuals or entities that allocate capital with the expectation of receiving financial returns.

Investor Aversion

A reluctance or aversion among investors to take on risky investments, preferring safer, more predictable returns instead.

Capital Gains

The increase in the value of an investment or real estate that gives it a higher worth than the purchase price.