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Explain Direct labor cost standard
The setting up of standard labor cost for each product would require:
a) The determination of budgeted fixed overhead for a period
b) Budgeted output in unit or standard hours during the period
c) The number of hors expected to be worked during the period
I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO
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During 2010, Jackson Company estimated that its manufacturing employees would work 80,000 direct labor hours. During the year the company actually worked 75,000 direct labor hours.
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