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Determine the overhead rate used

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Question: Lopez Company uses a job order cost accounting system that charges overhead to jobs on the basis of direct material cost. At year-end, the Goods in Process Inventory account shows the following.

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1. Determine the overhead rate used (based on direct material cost).

2. Only one job remained in the goods in process inventory at December 31, 2011. Its direct materials cost is $30,000. How much direct labor cost and overhead cost are assigned to it?

Reference no: EM131536352

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