Minstrel Manufacturing Uses a Job Order Costing System

question 31

Multiple Choice

Minstrel Manufacturing uses a job order costing system.During one month,Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect.Minstrel incurred a factory payroll of $150,000,of which $40,000 was indirect labor.Minstrel uses a predetermined overhead application rate of 150% of direct labor cost.
-If Minstrel incurred total overhead costs of $167,800 during the month,compute the amount of under- or overapplied overhead:

• A)$2,800 overapplied.
• B)$17,800 underapplied.
• C)$2,800 underapplied.
• D)$17,800 overapplied.
• E)$57,200 overapplied.

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Definitions:

Succession Management

A methodical approach to recognize and cultivate in-house talent for future critical leadership roles within a company.

Succession Management

The strategic process of identifying and developing talent within an organization to fill key leadership positions in the future.

Replacement Planning

A strategic process for identifying and developing successors for key positions within an organization to ensure continuity.

Succession Management

The method of finding and grooming new leaders to take over when existing leaders depart, retire, or die, thereby maintaining the continuous operation of the organization.