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Coyote Trading uses a predetermined manufacturing overhead rate of $12 per machine hour. Last year the company had actual overhead of $898,000 and 75,000 machine hours.
(a) Compute the amount of manufacturing overhead applied.
(b) Compute the amount of over/underapplied overhead.
(c) What is the disposition of the over/under applied overhead?
1. Prepare the journal entry to record the issuance of the bonds on July 1, 2010 2. Prepare the adjusting journal entry on December 31, 2010, to accrue the interest expense. 3. Prepare the journal entry to record the interest payment on January 1, 20..
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The bonds were sold for $177,000, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2009, in the amount of:
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