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Data table Requirements Record the journal entries for direct materials, direct labor, variable overhead, and fixed overhead, assuming all expenditures were on account and there
Data table Requirements
Record the journal entries for direct materials, direct labor, variable overhead, and
fixed overhead, assuming all expenditures were on account and there were no
beginning or ending balances in the inventory accounts all materials purchased
were used in production, and all goods produced were sold Record the journal
entries for the transfer to Finished Goods Inventory and Cost of Goods Sold omit
the journal entry for Sales Revenue Record the journal entry to adjust the
Manufacturing Overhead account. Record debits first, then credits. Select the
explanation on the last line of the journal entry table.
Standards:
yards of cloth per unit at $ per yard
direct labor hours per unit at $ per hour
Overhead allocated at $ per direct labor hour
Actual:
yards of cloth were purchased at $ per yard
Employees worked hours and were paid $ per hour
Actual variable overhead was $
Actual fixed overhead was $
Data table
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