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Froya Fabriker A / S of Bergen applies manufacturing overhead costs to jobs based on direct labor hours. Its oredetermined overhead rate was based on
Froya Fabriker AS of Bergen applies manufacturing overhead costs to jobs based on direct labor hours. Its oredetermined overhead rate was based on a cost formula that estimated $ of manufacturing overhead for an estimated allocation base of direct labor hours. The following transaction occured during the year.
POST JOURNAL entries to taccount s Don' t forget to enter beginning inventory balance above.
Prepare a scedule of cost of goods manufactured.
A prepare a journal entry to close any balance in the manufacturing overhead account cost of goods sold
B prepare a schedule of cost of goods sold
Prepare in come statement
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