Question: I know the answer I just need help with step-by-step instructions: 1. Acme Company had the following information for the year: $110,000 $150,000 $166,000 Direct

I know the answer I just need help with step-by-step instructions:

I know the answer I just need help with step-by-step instructions: 1.

1. Acme Company had the following information for the year: $110,000 $150,000 $166,000 Direct materials used Direct labor incurred (5,000 hours) Actual manufacturing overhead incurred Acme Company used a predetermined overhead rate of $35 per direct labor hour for the year Assume the only inventory balance is an ending Work in Process Inventory balance of $17,000. What was cost of goods manufactured? (Ans: $418,000)

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