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C) journalize the September 30 entries to apply factory overhead to production in each factory for September Tiny Biggs Company operates two factories. The company
C) journalize the September 30 entries to apply factory overhead to production in each factory for September
Tiny Biggs Company operates two factories. The company applies factory overhead to jobs on theb hours in Factory 1 and on the basis of direct labor hours in Factory 2 Estimated factory overhead costs, direct labor Factory I Factory 2 Estimated factory overhead cost for fiscal year beginning September 1.456,000 954,000 Estimated direct labor hours for year Estimated machine hours for year Actual factory overhead costs for September Actual direct labor hours for September Actual machine hours for September 26,500 52,000 $117,600 $102,350 2,795 4,250 Required A. Determine the factory overhead rate for Factory 1 B. Determine the factory overhead rate for Factory 2 C. Journalize the Sep. 30 entries to apply factory overhead to production in each factory for September. Refer to the Chart of Accounts for exact wording of account titles D. Determine the balances of the factory overhead accounts for each factory as of September 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary A. Determine the factory overhead rate for Factory 1 o 115b,000 52,00 2. per machine hour Points: 954,000 2 b, Soo B. Detemine the factory overhead rate for Factory 2 per direct labor hourStep by Step Solution
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