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Hi This is my last question for my subscription so please answer if you can follow the directions. I need help rearranging this problem and
Hi This is my last question for my subscription so please answer if you can follow the directions. I need help rearranging this problem and must Use JOURNAL ENTRIES to answer the question. I will give you a instant thumbs up if you can help me and follow the directions
Chapter 16 - Practice Problem #2 Finished Goods Inventory Beginning Balance Transferred In Transferred to Cost of Goods Sold 80,000 Unknown 200,000 Work in Process Inventory Beginning Balance Transferred to Finished Goods 175,000 316,000 Cost of Goods Sold 500,000 Beginning Balance Transferred In Unknown Wages Payable - Factory Total Payroll (Direct & Indirect Labor) Direct Labor Indirect Labor 628,000 405,000 223,000 Materials Inventory Beginning Balance Purchases Transferred to Work in Process Transferred to Factory Overhead 180,000 395,600 379,400 96,200 Factory Overhead Applied 50% of Direct Labor or Factory Overhead Rate $202,500Step by Step Solution
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