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Tidy Furniture Company uses a job costing system. The following debits (credits) appeared in the Work-in-Process Inventory account for June 2020: Description 1-Jun Balance Entire
Tidy Furniture Company uses a job costing system. The following debits (credits) appeared in the Work-in-Process Inventory account for June 2020: Description 1-Jun Balance Entire month Entire month Entire month Entire month Direct Materials Direct Labor Manufacturing overhead Transferred out $ Debits 20,000 80,000 60,000 45,000 Credits Required: (a) Calculate the amount of direct materials charged to Product 1000. (b) Compute the actual overhead for June 2020. $ 120,000 Tidy allocates overhead to production based on direct labor cost at a predetermined rate of 75%. Job 1000, the only job still in process at the end of June, has been charged with direct labor of $30,000. Tidy's Manufacturing Overhead account showed a credit balance of $10,000 at the end of June 2020.
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