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Unformatted text preview: $1,850 (i.e. it was not paid in cash but was shown as a liability in the wages payable account). . Applied overhead to production at the rate of 125% of direct labor dollars. Assets Liabilities Raw Materials Inventory Work-In-Process Inventory Accounts Payable Wages Payable Finished Goods Inventory Overhead Control Lease Payable Utilities Payable Owners Equity Accumulated Depreciation Accounts Receivable Sales Revenue Cost of Goods Sold Job # Direct Materials: B.B. Direct Labor: B.B. Applied Overhead: B.B. Total Cost of Job:...
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- Spring '08
- Managerial Accounting, Generally Accepted Accounting Principles, Finished Goods, Cr, Raw Materials Inventory