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The following information relates to Wells Fargo for July 2008: Actual direct labor costs$80,000 Actual direct labor rate per hour$8 Factory overhead rate per direct
The following information relates to Wells Fargo for July 2008:
Actual direct labor costs$80,000
Actual direct labor rate per hour$8
Factory overhead rate per direct labor hour$12
Factory overhead incurred$160,000
Assuming under applied or over applied overhead is transferred to cost of goods sold at the end of the period, calculate the cost of goods sold account.
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