Author Question: The balance sheet represents the accounting equation. a. True b. False Indicate whether the ... (Read 65 times)

khang · **on:** Jul 6, 2018

The balance sheet represents the accounting equation.
a. True
b. False

Indicate whether the statement is true or false

Question 2

For Department A, the manufacturing overhead allocation rate is ________.

Apple Valley Corporation uses a job cost system and has two production departments, A and B. Budgeted manufacturing costs for the year are:

Department A Department B
Direct materials 700,000 100,000
Direct manufacturing labor 200,000 800,000
Manufacturing overhead 600,000 400,000

The actual material and labor costs charged to Job 432 were as follows:

Total
Direct materials: 25,000
Direct labor:
Department A 8,000
Department B 12,000
20,000

Apple Valley applies manufacturing overhead costs to jobs on the basis of direct manufacturing labor cost using departmental rates determined at the beginning of the year.

A) 33
B) 66
C) 300
D) 100