ACC650 Module 7 - Quiz Product Costing Systems and Cost Allocation

ACC650 Module 7 - Quiz Product Costing Systems and Cost Allocation

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1)         Indiana Company incurred the following costs during the past year when planned production and actual production each totaled 20,000 units:

a.         Direct material used                          $280,000

b.         Direct labor                                     $120,000

c.         Variable manufacturing overhead        $160,000

d.         Fixed manufacturing overhead            $100,000

e.         Variable selling and administrative costs $60,000