Scholes Manufacturing Corporation Has a Traditional Costing System in Which

question 12

Multiple Choice

Scholes Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs) . The company has two products, L45Y and F91I, about which it has provided the following data: The company's estimated total manufacturing overhead for the year is $3,170,400 and the company's estimated total direct labor-hours for the year is 60,000.

The company is considering using a variation of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below:

-The unit product cost of product F91I under the activity-based costing system is closest to:

• A)$266.10
• B)$98.70
• C)$167.40
• D)$225.52

Distinguish between mitotic and meiotic division and their purposes within an organism.

Understand the importance of external signals in the regulation of the cell cycle.

Comprehend the process and significance of fertilization in forming a diploid organism.

Describe the differences in chromosome structure at various stages of cell division.

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Definitions:

Units Transferred Out

The term used in cost accounting to refer to products or goods that have been completed and moved out of the work-in-process accounts into finished goods inventory.

Total Cost

The aggregate amount of expenses incurred by a company to produce goods or services, including fixed, variable, and semi-variable costs.

Weighted-Average Method

An inventory costing method that assigns an average cost to each unit of inventory, incorporating all units available for sale.

Processing Department

This refers to a division within a business that handles the processing of materials or information.