Lewis Incuses a Job-Order Costing System in Which Any Underapplied or or Overapplied

question 15

Multiple Choice

Lewis 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 October the company completed job P70C that consisted of 25,000 units of one of the company's standard products.No other jobs were in process during the month.The job cost sheet for job P70C shows the following costs: During the month,the actual manufacturing overhead cost incurred was $334,500 and 13,000 completed units from job P70C 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 October is closest to:

• A)$715,000
• B)$1,375,000
• C)$1,270,000
• D)$709,540

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Definitions:

Equal Status

The concept that individuals or groups are of the same standing or importance in social, legal, or ethical contexts.

Conformity

When people yield to real or imagined social pressure.

Social Pressure

A form of influence exerted by a group, leading individuals to change their attitudes, values, or behaviors to conform to group norms.

Group Size

refers to the number of individuals forming a social or work group and can impact the group's dynamics and effectiveness.