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Explain and provide an example for the following job order cost system entries: initial purchase of...

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Accounting

Explain and provide an example for the following job order costsystem entries: initial purchase of raw materials, the requisitionof materials from the warehouse to the production floor, andfactory labor used in production. For each journal entry, identifyif the cost being recorded is a product cost or a period cost.

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Example a Initial purchase of raw materials on credit 80000 b Raw materials issued from warehouse to production 50000 80 being direct materials c Factory labor used in production 40000 70    See Answer
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