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Apex Company operates a job costing system and had the following balances in its ledger:- The following transactions took place in November:- Overhead is applied
Apex Company operates a job costing system and had the following balances in its ledger:- The following transactions took place in November:- Overhead is applied on the basis of 60% of direct labour cost. Calculate 1. The cost of goods produced in November. 2. The cost of materials issued to production in November. 3. The cost of raw materials purchased in November. 4. The normal cost of goods sold in November. 5. The overapplied or underapplied overhead in November. 6. The gross profit if sales were 60,000 and overapplied or underapplied overhead is written off
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