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a . Direct materials. Direct labor. Overhead applied. Indirect materials. Indirect labor. Use the document information above to prepare journal entries for the above costs.
a
Direct materials.
Direct labor.
Overhead applied.
Indirect materials.
Indirect labor.
Use the document information above to prepare journal entries for the above costs.
b In Factory Overhead Taccount, enter amounts from part related to factory overhead. Determine the amount of over or underapplied overhead.
c Prepare the entry to close any over or underapplied overhead to Cost of Goods Sold.
d Prepare a revised list of account balances as of December Hint: Use the prior year's Retained Earnings balance of $ in this list.
e Prepare an income statement for the year and a balance sheet as of December Hint: Retained earnings is $ at the end of the current year.
f Assume that the $ on materials requisition should have been direct materials charged to Job Does this error result in overstatement or understatement of total assets?
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