ACCT 344 Week 1 Homework......................(ACCT 344 Cost Accounting - DeVry)
Question # 00022966
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Updated on: 08/13/2014 03:30 PM Due on: 08/14/2014
1.Question:Able Corporation incurred the following costs………………. Calculate the following.
a Direct materials used
b. Cost of goods manufactured
c. Cost of goods sold
d. Operating income
a. Prepare the journal entries to record the costs incurred for Job 506 in 2015 for direct materials, direct labor, and factory overhead.
b. Prepare the journal entry to record the completion of Job 506.
c. What is the predetermined factory overhead rate for Bearing Manufacturing?
d. Prepare the journal entries to record the sale of Job 506.
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Solution: ACCT 344 Week 1 Homework......................(ACCT 344 Cost Accounting - DeVry)