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ABC Company employs a job-order cost accounting system and keeps perpetual inventory records. Instructions Prepare journal entries to record the above transactions. Answer the following:
ABC Company employs a job-order cost accounting system and keeps perpetual inventory records.
Instructions
Prepare journal entries to record the above transactions.
Answer the following:
How much manufacturing overhead was applied to Job 57 during the month?
Calculate the unit costs of Jobs 56 and 58.
What is the balance in Work in Process Inventory at the end of the month?
Determine if manufacturing overhead was under- or over-applied during the month. By how much?
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