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Concord Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4500 machine hours for the period.
Concord Company assigns overhead based on machine hours. The Milling Department logs 2400 machine hours and Cutting Department shows 4500 machine hours for the period. If the overhead rate is $6 per machine hour, the entry to assign overhead will show a debit to Work in Process Inventory - Milling Department for $27000. O credit to Manufacturing Overhead for $41400. O credit to Work in Process Inventory-Cutting Department for $27000. O debit to Manufacturing Overhead for $41400
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