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16-7 - 16-7 16-22(1 Actual factory overhead incurred...

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16-7 16-22 (1) Actual factory overhead incurred $260,000 Factory overhead applied (9,500 machine hours x $27) (256,500) Underapplied factory overhead $ 3,500 Assets = Liabilities + Stockholders’ Equity Net Income Revenues — Expenses Factory Overhead Cost of Goods Sold +$260,000 —$256,500 Bal $ 3,500 — 3,500 — +$3,500 (2) Actual factory overhead incurred $235,000
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