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Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year: total manufacturing costs: 3,030,000
Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year: total manufacturing costs: 3,030,000 cost of goods manufactured: 2,878,500 predetermined overhead rate: 80% of direct labor cost Applied overhead was 30% of total manufacturing costs. The Work in Process inventory at January 1 was 75% of the Work in Process inventory at December 31. The Work in Process inventory at December 31 was:
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