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Cost flows and overhead application
Cleveland Metals uses a job cost system and applies factory overhead to production at a predetermined rate of 180% of direct labor cost. Data pertaining to recent operations follow.
a. Compute the total cost of the work in process inventory on January 31.
b. Compute the cost of jobs completed during January, and present the proper journal entry to reflect job completion.
last year the house of orange had sales of 826650 net operating income of 81000 and operating assets of 84000 at the
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In 2010, Jonas built 10 miles of roads at a cost of $8,400 per mile. After the roads were completed, Jonas logged and sold 3,500 trees containing 880,000 board feet. (a) Determine the cost of timber sold related to depletion for 2010.
Surendra's personal residence originally cost $340,000 (ignore any value assigned to land). After living in the house for five years, he converts it to rental property. At the date of conversion, the fair market value of the house is $320,000.
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