Assignment to Jobs - manufacturing overhead if the factory...

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Assignment to Jobs: Once the company has incurred manufacturing costs, it must assign them to specific jobs. For example, as it uses raw materials on specific jobs, it assigns them to work in process, or treats them as manufacturing overhead if the raw materials cannot be associated with a specific job. Similarly, it either assigns factory labor to work in process, or treats it as
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Unformatted text preview: manufacturing overhead if the factory labor cannot be associated with a specific job. Finally it assigns manufacturing overhead to work in process using a predetermined overhead rate . T his deserves emphasis: Do not assign overhead using actual overhead costs, but instead use a predetermined rate...
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