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During January, its first month of operations, Reyes Tool & Dye accumulated the following manufacturing costs: raw materials $4,000 on account, factory labor $5,000 of
During January, its first month of operations, Reyes Tool & Dye accumulated the following manufacturing costs: raw materials $4,000 on account, factory labor $5,000 of which $4,200 relates to factory wages payable and $800 relates to payroll taxes payable, and utilities payable $2,000. Prepare separate journal entries for each type of manufacturing cost
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