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Abbott Lamp Corporation manufactures BOTH Mountain Dew Lamps AND Coca-Cola Lamps, starts 1/1/20. On 1/1/20, Erin Rogers ESTIMATES the following MOH costs: Factory Utilities $100Factory Rent $1,000Equipment Depreciation $1,000Indirect Materials/grease $100 Abbott Lamp Corporation uses MACHINE HOURS to allocate Utilities, Rent, Depreciation and grease. Erin Rogers also estimates a total of 100 machine hours and for the year. Problem 1: During the year, ALC Coca-Cola Lamp workers requisitioned out 100 Coca-Cola cans and 100 pieces of paper, they also requisitioned out 80 pounds of grease and put the grease into the machines. Give the appropriate journal entry
Financial Statement Analysis and Preparation
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