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Northwest Incorporated has provided the following information for the year ended 20x8: a. Purchased raw materials on account for $242,800. b. Issued $132,800 in raw
Northwest Incorporated has provided the following information for the year ended 20x8: a. Purchased raw materials on account for $242,800. b. Issued $132,800 in raw materials to production ($36,800 were not traceable to specific jobs). c. Incurred $146,800 in direct labor costs (16,920 hours) and $65,300 in supervision costs (paid in cash). d. Incurred the following additional manufacturing overhead costs: factory lease $38,800 (paid in cash); depreciation on equipment $32,800; indirect supplies $16,300 (paid in cash). e. Incurred the following nonmanufacturing costs, both paid in cash: advertising $47,800; sales commissions $50,800. f. Applied manufacturing overhead to jobs in process at a rate of $13 per direct labor hour. g. Completed jobs costing a total of $417,800. h. Sold jobs for $627,800 on account. The cost of the jobs was $414,800. i. Closed the Manufacturing Overhead account balance.
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