Somalian Corporation Uses a Standard Costing System

question 42

Multiple Choice

Somalian Corporation uses a standard costing system. Information for the month of May is as follows: Actual manufacturing overhead costs ($26,000 is fixed) $80,000 Direct labor:
Actual hours worked 12,000 hrs.
Standard hours allowed for actual production 10,000 hrs.
Average actual labor cost per hour $18
The factory overhead rate is based on a normal volume of 12,000 direct labor hours. Standard cost data at 12,000 direct labor hours were as follows:

• A) $2,000 (
• B) $20,000 (
• C) $4,000 (
• D) $8,000 (

Calculate overtime pay based on hourly wages and overtime rates.

Solve problems involving the distribution of fixed totals to groups with different entitlement criteria.

Determine investment allocations and returns based on interest rates and total returns.

Accurately perform proportion calculations in budgeting and planning for mixed goods.

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