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Panasonic produces two products: Televisions and Radios. The overhead costs are allocated based on direct labor hours. The total overhead cost is $7,500,000, with 100,000
Panasonic produces two products: Televisions and Radios. The overhead costs are allocated based on direct labor hours. The total overhead cost is $7,500,000, with 100,000 direct labor hours for Televisions and 50,000 direct labor hours for Radios. Calculate the overhead cost per direct labor hour and determine the overhead allocated to each product. Prepare the balance sheet after the formation of the partnership.
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