PE6 - During the first month of the current accounting...

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During the first month of the current accounting period, Waters Company experienced a devastating loss due to  a flood.  Many of the accounting records were lost and the company is not trying to recreate the lost  information.  Fragments of data found in the mud include the following:   a. A portion of the budget indicates that the manufacturing overhead rate was $8 per direct labor hour. b. Job 445 was still in process and the end of the month and had incurred $2,400 of direct materials and  $3,000 of direct labor (200 hours).  The company has a single hourly wage rate. c. 5,000 direct labor hours were worked on during the month. d. Actual manufacturing overhead costs were $42,000.  No indirect materials were used. e. The Materials Inventory Control account had a beginning balance of $25,000 and an ending balance  of $20,000. f.
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This note was uploaded on 02/25/2010 for the course MAT 443 taught by Professor Roberts during the Winter '10 term at University of Arizona- Tucson.

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PE6 - During the first month of the current accounting...

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