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Question - Northwest Inc. has provided the following selected information for March 2018:
A) Incurred $144,000 in direct labor costs (14,120 hours) and $62,500 in supervision costs (paid in cash).
B) Incurred the following additional manufacturing overhead costs: factory lease $36,000 (paid in cash): depreciation on equipment $30,000; indirect supplies $13,500 (paid in cash)
C) Applied manufacturing overhead to jobs in process at a rate $13 per direct labor hour.
Prepare the journal entries to record these transactions.
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Define the ‘hard' and ‘soft' systems. With the aid of diagrams, comment on and discuss the difference between these two theoretical approaches and their implications on designing computer-based accounting information systems
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explain he 4 financial statements (descriptions, contents, forms of presentation).
Wayne applies manufacturing overhead cost to jobs based on direct labor-hours, and the predetermined rate is $5.75 per direct labor-hour.
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