(CMA) Lucy Sportswear manufactures a specialty line of T-shirts using a job order cost system. During March, the following costs were incurred in completing Job ICU2: direct materials $13,700, direct labour $4,800, administrative $1,400, and selling $5,600. Factory overhead was allocated at the rate of $25 per machine hour and Job ICU2 required 800 machine hours. If Job ICU2 resulted in 7,000 good shirts, the cost of goods sold per unit would be:
A) $6.50
B) $6.30
C) $5.70
D) $5.50
Correct Answer:
Verified
Q114: Job order costing is used when products
Q116: Job costing is used in manufacturing for
Q117: The total cost of Job No. 195
Q120: • The overhead is allocated to jobs
Q121: Fabulous Surf Boards makes custom boards for
Q123: Job costing is used to:
A) Value inventory
Q125: Direct materials in job costing:
A) Can be
Q126: PNG Corporation designs and builds roller coasters
Q129: Direct labour:
A) Always flows into an overhead
Q130: Indirect materials:
A) Flow into the overhead account
B)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents