Vote: In both problem sets, assume perpetual inventory procedures, a single Manufacturing Overhead account, irst-in, first-out (FIFO) costing of inventories, and that the Materials Inventory account is the control account or both direct materials and indirect materials. P3-1A. Determine and Use Overhead Rate Cortez Consulting, Inc., expects the following costs and expenses during the coming year: Required a. Compute a predetermined overhead rate applied on the basis of direct labor hours. b. Prepare a general journal entry to apply overhead during an interim period when 1,500 direct labor hours were worked. c. What amount of overhead would be assigned to Job 466 , to which $180 in direct labor had been charged
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