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Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs...

Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200
.
(a) Prepare the journal entries to record (1) the application of factory overhead to production during July and (2) the jobs completed during July.

(b) What was the balance of the factory overhead account on July 31?



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