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How to calculate the cost of goods sold account

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Reference no: EM132533925

The following information relates to Wells Fargo for July 2008:

Actual direct labour costs $80,000

Actual direct labour rate per hour $8

Factory overhead rate per direct labour hour $12

Factory overhead incurred $160,000

Question 1: Assuming underapplied or overapplied overhead is transferred to cost of goods sold at the end of the period, calculate the cost of goods sold account.

Reference no: EM132533925

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