Magnum Company Uses Direct Labor Cost as a Basis for Computing

question 62

Multiple Choice

Magnum Company uses direct labor cost as a basis for computing its predetermined overhead rate.In computing the predetermined overhead rate for 2016,the company misclassified a portion of direct labor cost as indirect labor.The effect of this misclassification will be to:

• A) understate the predetermined overhead rate.
• B) overstate the predetermined overhead rate.
• C) there will be no effect on the predetermined overhead rate.
• D) Can't tell from the information provideD.
• Misclassifying the direct labor will cause the numerator to be larger and the denominator to be smaller,thus overstating the rate.

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Definitions:

Doing of Gender

A theory suggesting that gender is constructed through social practice and interaction rather than being an innate biological characteristic.

Institutional Model

A framework or system defining the structure, operations, and behavior of institutions based on established laws, norms, and practices.

Situated Knowledge

Knowledge and understanding that is specific to a particular context or situation, acknowledging that perspectives are shaped by an individual's or group's experiences.

Socialist Feminists

A branch of feminism that focuses on both the public and private spheres of a woman's life, addressing issues related to economic justice and gender equality within a socialist framework.