Hiraki Inc

question 75

Multiple Choice

Hiraki 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 March the company completed job B36H that consisted of 29,000 units of one of the company's standard products.No other jobs were in process during the month.The job cost sheet for job B36H shows the following costs: During the month,the actual manufacturing overhead cost incurred was $330,600 and 16,000 completed units from job B36H 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 March is closest to:

• A)$1,441,300
• B)$828,800
• C)$820,800
• D)$1,502,200

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Definitions:

Mean

Refers to the arithmetic average of a dataset, computed as the sum of all the numerical values divided by the count of values in the dataset.

Standard Error

The standard deviation of the sampling distribution of a statistic, often the mean, representing the accuracy with which a sample approximates a population.

Confidence Interval

A span of values, obtained from sample information, which is expected to encompass the value of an unidentified population characteristic.

Mean

The arithmetic average of a set of values, calculated by adding all the numbers together and dividing by the count of values.