Paskey Inc

question 53

Multiple Choice

Paskey Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month. In July the company completed job C77T that consisted of 12,000 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job C77T shows that the job's total cost was $771,600. During the month, 10,000 completed units from job C77T were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for July is closest to:

• A)$771,600
• B)$643,000
• C)$643,900
• D)$734,400

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Definitions:

Myelinated Axons

Axons that are coated with a protective layer of myelin, which helps to speed the transmission of electrical signals along the nerve cells.

Gray Matter

Gray matter and is a component of the brain and spinal cord, consisting of neuronal cell bodies, dendrites, and unmyelinated axons, playing a crucial role in processing information.

Refractory Period

The time after an action potential during which a neuron’s cell membrane is unprepared for the next action potential.

Action Potential

A brief electrical impulse that travels down a neuron, triggering the release of neurotransmitters.