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Redman Company manufactures customized desks. The following pertains to Job No. 978:
Direct materials used
$9,450
Direct labor hours worked
360
Direct labor rate per hour
$15.00
Machine hours used
300
Applied factory overhead rate per machine hour
$22.00
What is the total manufacturing cost for Job No. 978?
Record journal entries to account for the transactions and information and using Accpac, prepare the revised statement of financial position.
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The business had recorded the cost of $1,200 to the asset- Prepaid Insurance business would record transaction
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If Ms. Norman had been able to perform the necessary audit procedures, there are three types of audit reports that she could have issued depending on the outcome of the audit.
What is the difference between explicit and implicit cost? Explain your answers. How would we determine if a cost is a fixed cost or a variable cost?
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