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Required: ( a ) Compute Carib s predetermined manufacturing overhead rate for 2 0 2 4 . ( b ) State the journal entries necessary
Required: a Compute Caribs predetermined manufacturing overhead rate for b State the journal entries necessary to record the above transactions in the general journal. Assume that Carib uses the perpetual inventory system. c Post the manufacturing overhead transactions to the Manufacturing Overhead Taccount and state the balance on the account before performing end of period closing entries. Show the journal entries necessary to dispose of the variance. d What is the balance in the Cost of Goods Sold account after the adjustment? e Compute Caribs gross profit earned on the jobs completed and sold, after adjusting for the manufacturing overhead variance. f Post the appropriate entries to Work in Process Inventory Control account & determine the account balance on June the end of the month. g State and explain three differences between a job costing system and a process costing system.
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