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The following cost data relate to the manufacturing activities for the company: The company uses a predetermined overhead rate of to apply overhead cost to
The following cost data relate to the manufacturing activities for the company: The company uses a predetermined overhead rate of to apply overhead cost to jobs. The rate for the year was $5 per machine-hour; a total of 10,000 machine hours was recorded for the year. All raw materials ultimately become direct materials-none are classified as indirect materials. Calculate the following: Raw materials used in production Manufactured Overhead applied Total manufacturing cost Cost of goods manufactured Unadjusted Cost of goods sold Adjusted Cost of Goods Sold Gross margin Net operating income
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