Question: Please explain the correct approach for solving this general accounting question. ELBA COMPONENTS ACCUMULATED THE FOLLOWING COST INFORMATION FOR THE YEAR: DIRECT MATERIALS $14,500 INDIRECT

Please explain the correct approach for solving this general accounting question.

Please explain the correct approach for solving
ELBA COMPONENTS ACCUMULATED THE FOLLOWING COST INFORMATION FOR THE YEAR: DIRECT MATERIALS $14,500 INDIRECT MATERIALS $4,200 INDIRECT LABOR $11,100 FACTORY DEPRECIATION $16,400 DIRECT LABOR $41,000 USING THE ABOVE INFORMATION, TOTAL FACTORY OVERHEAD COSTS WOULD BE

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