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please help me to correct the question. tks The following information is available for Lock-Tite Company, which produces special-order security products and uses a job
please help me to correct the question. tks
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system April 30 $ $46,000 10,800 66,000 May 31 58,000 22,500 41,600 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 216,000 357,000 21,000 B6,000 126,000 1,460,000 754 Determine whether there is over or underapplied overhead. Prepare the journal entry to allocate (close) overapplied or underapplied overhead to Cost of Goods Sold. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Overhead Absorption General Journal Determine whether there is over or underapplied overhead. Factory Overhead Direct labor cost 271,000 203,250 Applied overhead Actual overhead 233,000 Underapplied overhead 300.750 Overhead Absorption General Journal > Step by Step Solution
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