Wilson Corporation uses a job-order costing system with a single plant-wide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $105,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. The company recently completed Job Q543 which required 2700 labor hours and 2500 machine hours. total direct labor was $ 80,000. total direct material was $ 150,000. Total manufacturing cost of Job Q543 was closest to: A) $270,000 B) $242,000 C) $241,000 D) $230,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
Wilson Corporation uses a job-order
costing system with a single plant-wide
predetermined overhead rate based on
machine-hours. The company based its
predetermined overhead rate for the
current year on total fixed manufacturing
overhead cost of $105,000, variable
manufacturing overhead of $3.00 per
machine-hour, and 70,000 machine-hours.
The company recently completed Job
Q543 which required 2700 labor hours and
2500 machine hours. total direct labor was
$ 80,000. total direct material was $
150,000. Total manufacturing cost of Job
Q543 was closest to:
A) $270,000
B) $242,000
C) $241,000
D) $230,000
Transcribed Image Text:Wilson Corporation uses a job-order costing system with a single plant-wide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $105,000, variable manufacturing overhead of $3.00 per machine-hour, and 70,000 machine-hours. The company recently completed Job Q543 which required 2700 labor hours and 2500 machine hours. total direct labor was $ 80,000. total direct material was $ 150,000. Total manufacturing cost of Job Q543 was closest to: A) $270,000 B) $242,000 C) $241,000 D) $230,000
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education