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General Motors uses job-order costing. Direct materials cost $700,000, direct labor cost $500,000, and manufacturing overhead is applied at 150% of direct labor cost. Calculate

General Motors uses job-order costing. Direct materials cost $700,000, direct labor cost $500,000, and manufacturing overhead is applied at 150% of direct labor cost. Calculate the total manufacturing cost for the job. Prepare the balance sheet after the formation of the partnership.

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