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Question
A summary of the time tickets for August follows:
| Job No. | Amount | Description | Amount |
| 321 | $11,000 | 342 | $8,300 |
| 329 | 9,200 | 346 | 5,700 |
| 336 | 5,000 | Indirect | 8,000 |
Journalize the entries for (a) the labor cost incurred and (b) the application of factory overhead to production for August. The factory overhead rate is 70% of direct labor cost.
Answer
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