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A manufacturing company uses different product costing methods to determine the cost of its product. If the actual direct materials cost $50, actual labor cost
A manufacturing company uses different product costing methods to determine the cost of its product. If the actual direct materials cost $50, actual labor cost $30, and actual manufacturing overhead is $20, what would be the total product cost using Actual Costing, Normal Costing (with an overhead rate of 150% of direct labor cost), and Standard Costing (with standard costs of $55 for materials, $35 for labor, and $25 for overhead)?
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