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The Work-in-Process inventory account of a manufacturing firm shows a balance of $4,620 at the end of an accounting period. The job cost sheets
The Work-in-Process inventory account of a manufacturing firm shows a balance of $4,620 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $610 and $410 for materials, and charges of $700 and $900 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:
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Advanced Accounting
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
2nd edition
1934319309, 978-1934319307
