Based on the transactions of GHI Enterprises during July 2024, prepare journal entries for the following Purchase of raw materials on account $50,000 Incurred factory labor costs $30,000 Overhead costs paid in cash $10,000 Sales revenue earned $100,000 Calculate the total manufacturing cost and prepare a ledger for manufacturing overheads

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Based on the transactions of GHI Enterprises during July 2024, prepare journal entries for the following: Purchase of raw materials on account: $50,000 Incurred factory

Based on the transactions of GHI Enterprises during July 2024, prepare journal entries for the following:

Purchase of raw materials on account: $50,000
Incurred factory labor costs: $30,000
Overhead costs paid in cash: $10,000
Sales revenue earned: $100,000

Calculate the total manufacturing cost and prepare a ledger for manufacturing overheads.

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