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Review the journal entries to: Purchase materials Requisition both direct and indirect materials for use Pay both direct and indirect labor Apply factory overhead based
Review the journal entries to:
- Purchase materials
- Requisition both direct and indirect materials for use
- Pay both direct and indirect labor
- Apply factory overhead based on the predetermined manufacturing overhead rate
- Move the goods from work in process to finished goods when completed
- Sell a completed item
- Close Factory overhead to Cost of Goods Sold if it is over/under allocated
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