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Capestar Corp. produces sails for high-end sailboats. It operates under a normal costing system and allocates manufacturing overhead using direct labor costs. The following is

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Capestar Corp. produces sails for high-end sailboats. It operates under a normal costing system and allocates manufacturing overhead using direct labor costs. The following is data for 2008: Inventory balances on Dec. 31,2008 , were as follows, before any adjustments for under- or overapplied overhead

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