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Landry Incorporated has a job costing system. The following items appeared in the Work in Process account during February 2016: Landry Incorporated applies overhead to
Landry Incorporated has a job costing system. The following items appeared in the Work in Process account during February 2016: Landry Incorporated applies overhead to production on the basis of direct labor hours. Job XX, the only job in process on February 28, has been charged $10, 600 raw materials cost and has 100 hours of direct labor time assigned to it. Determine the predetermined factory overhead application rate for Landry Incorporated. Determine the amounts of raw materials, direct labor, and factory overhead included in the February 28, 2016, work in process. Determine the amount of raw materials placed into production during February 2016. Give the journal entry to record direct labor incurred in February 2016. Give the journal entry to record the factory overhead applied in February 2016
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