Total manufacturing-related costs incurred for Miller Company in October for all jobs is as follows: Assuming Miller uses a normal costing system and applies overhead based on a predetermined rate, what is the credit to Overhead Control to close the account at the end of the year?

Question

Total manufacturing-related costs incurred for Miller Company in October for all jobs is as follows:  Assuming Miller uses a normal costing system and applies overhead based on a predetermined rate, what is the credit to Overhead Control to close the account at the end of the year?

Quizplus · Accepted Answer

The question does not provide information on the predetermined overhead rate or the actual overhead incurred, so we cannot calculate the credit for Overhead Control. However, we can eliminate choices A, C, and D as they all provide values that are significantly higher than the total manufacturing-related costs provided in the question. Therefore, the best choice is B, as it provides a more reasonable estimate for the credit to Overhead Control.

Total Manufacturing-Related Costs Incurred for Miller Company in October for All