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3-02 ILLINOIS CORPORATION.docx - Kerlin Elvir Acct 307...

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Kerlin ElvirAcct 3072/20/2020GOALS AND OBJECTIVESTo illustrate the impact of methods such as departmental overhead rates on costing of productsQUESTIONS TO CONSIDER IN PREPARATION FOR SESSIONWill the use of departmental overhead rates increase the accuracy of financial statements?WHY or WHY NOT?What is the potential impact of the situation below on product planning, evaluation of results anddecision making?ILLINOIS CORPORATION……..produces two products and uses a predetermined overhead rate to apply overhead. Thecompany currently applies overhead using a plantwide rate based on direct labor hours. Considerationis being given to the use of departmental overhead rates where overhead would be applied on thebasis of direct labor hours in Department 1 and on the basis of machine hours in Department 2. At the

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Term
Fall
Professor
N/A
Tags
Multiplication, Departmental overhead rates, 0 6, Kerlin Elvir, 1 168 320

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