Jefferson Inc

question 51

Multiple Choice

Jefferson 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 U22T that consisted of 14,000 units of one of the company's standard products.No other jobs were in process during the month.The total manufacturing cost for job U22T according to its job cost sheet was $638,400.During the month,the actual manufacturing overhead cost incurred was $150,780 and the manufacturing overhead applied was $163,800.And during the month,4,000 completed units from job U22T 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)$618,800
• B)$178,680
• C)$638,400
• D)$182,400

Understand the characteristics of money market securities.

Appreciate the risks associated with changes in an investment portfolio composition, such as interest rate risk, default risk, and maturity risk.

Grasp the concept of opportunity cost associated with holding cash and how it impacts financial decisions.

Identify the motivations behind a firm's need for liquidity, including precautionary, transaction, speculative, and float motives.

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Definitions:

Substitute Products

Goods or services that can be used in place of each other, offering consumers alternatives in their purchasing choices.

Degree of Rivalry

The extent of competition between firms in the same industry, influencing market dynamics and profitability.

Threat of Substitute Products

The potential risk that consumers might replace a company's product with similar goods or services from another provider.

Degree of External Competition

The extent of competition that a business faces from other companies within the same industry or market.