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Question - Tancredi Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
Machining
Customizing
Total
Estimated total machine-hours (MHs)
5,000
10,000
Estimated total fixed manufacturing overhead cost
$22,000
$11,500
$33,500
Estimated variable manufacturing overhead cost per MH
$1.80
$3.00
During the most recent month, the company started and completed two jobs--Job E and Job J. There were no beginning inventories. Data concerning those two jobs follow:
Job E
Job J
Direct materials
$12,800
$7,000
Direct labor cost
$17,600
$7,700
Machining machine hours
3,400
1,600
Customizing machine-hours
2,000
3,000
Assume that the company uses a plant wide predetermined manufacturing overhead rate based on machine-hours. If both jobs are sold during the month, the company's cost of goods sold for the month would be closest to:
$110,808
$61,450
$102,600
$41,150
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