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Dina Corp. uses a job order cost accounting system. Four jobs were started during the current year. The following is a record of the costs
Dina Corp. uses a job order cost accounting system. Four jobs were started during the current year. The following is a record of the costs incurred: Actual overhead costs were $55, 800. The predetermined overhead allocation rate is $2.40 per direct labor hour. During the year, Jobs 1010, 1012, and 1013 were completed. Also, Jobs 1010 and 1013 were sold for $387, 000. Assuming that this is Dina's first year of operations: Calculate the balance in the Goods in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts. Show all calculations. Dina Corp. uses a job order cost accounting system. Four jobs were started during the current year. The following is a record of the costs incurred: Actual overhead costs were $55, 800. The predetermined overhead allocation rate is $2.40 per direct labor hour. During the year, Jobs 1010, 1012, and 1013 were completed. Also, Jobs 1010 and 1013 were sold for $387, 000. Assuming that this is Dina's first year of operations: Calculate the balance in the Goods in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts. Show all calculations
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