During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900.
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During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of $125,900. Overhead is applied at the rate of 75% of the direct labor cost. These are the inventory balances:
Compute the cost of materials used in production, the cost of goods manufactured, and the cost of goods sold.
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Related Book For 
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
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