The Collins Corporation uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year: manufacturing overhead cost, $200,000; direct materials cost, $160,000. The following transactions took place during the year (all purchases and services were acquired on account):
Raw materials were purchased, $86,000.Raw materials were requisitioned for use in production (all direct materials), $98,000.Utility costs were incurred in the factory, $15,000.Salaries and wages were incurred as follows:

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The Answer of The Collins Corporation uses a job-order costing system and applies manufacturing overhead cost to jobs on the basis of the cost of materials used in production. At the beginning of the most recent year, the following estimates were made as a basis for computing the predetermined overhead rate for the year: manufacturing overhead cost, $200,000; direct materials cost, $160,000. The following transactions took place during the year (all purchases and services were acquired on account):
Raw materials were purchased, $86,000.Raw materials were requisitioned for use in production (all direct materials), $98,000.Utility costs were incurred in the factory, $15,000.Salaries and wages were incurred as follows:

The Collins Corporation Uses a Job-Order Costing System and Applies