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Unformatted text preview: WIP Dr.48000 FOH control Dr.5900 Payroll Cr.53900 5. Overhead costs incurred on account were $80,500. FOH control Dr.80500 Accounts Payable Cr.80500 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. WIP Dr.72000 FOH control Cr.72000 7. Goods costing $88,000 were completed and transferred to finished goods. Finished Goods Dr. 88000 WIP Cr.88000 8. Finished goods costing $75,000 to manufacture were sold on account for $103,000. Cost of goods sold Dr.75000 Finished Goods Cr.75000 Account Receivable Dr.103000 Sales Cr.103000...
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- Spring '12