Which of the following statements is true about released orders?
A) A planned order release is a not a released order.
B) A scheduled receipt is a released order.
C) An open order is a released order.
D) All of the above are true.
E) None of the above is true.
D
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Engelhardt, Inc, a law consulting firm, has been using a single predetermined overhead allocation rate with direct labor hours as the allocation base to allocate overhead costs
The direct labor rate is $40 per hour. Ted Heath, the president of Engelhardt, decided to develop an ABC system to accurately allocate the indirect costs. He identified two activities related to the total indirect costs-travel and information technology (IT) support. The other relevant details are given below: Activity Allocation base Estimated costs Estimated quantity of allocation base Travel Miles driven $77,000 3,500 miles IT Support Direct labor hours 55,000 1,250 DLHr Total $132,000.00 During the current month, Engelhardt's consultants spent 150 labor hours for Cunningham, Inc The job required the professionals to travel 400 miles in total. Determine the total cost of the consulting job using the ABC system. (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A) $6,000 B) $1,760 C) $6,600 D) $21,400
Which of the following is a part of manufacturing overhead?
A) cost of raw materials B) wages of assembly line workers C) factory insurance D) depreciation on office furniture