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Sarasota Corporation was starting a new style of jacket and was monitoring the costs of...

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Accounting

Sarasota Corporation was starting a new style of jacket and was monitoring the costs of its first production run of these items during the month. The costs and transactions associated with this jacket were as follows. 1. 2. 3. 4. 5. 6. Purchased fabric on account at a cost of $420. Transferred $330 of fabric into production. Accrued DL cost of $230 associated with 10 DL hours. Recorded actual MOH costs of $205 (consisting of accrued liabilities of $120 and factory-related depreciation of $85). Applied MOH costs using a budgeted MOH rate of $13 per DL hour. Recognized cost of goods completed of $480.
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Sarasota Corporation was starting a new style of jacket and was monitoring the costs of its first production run of these items durinit the month. The costs and transactions associated with this jacket were as follows. 1. Purchased fabric on account at a cost of $420, 2. Transferred $330 of fabric into production. 3. Accrued DL cost of $230 associated with 100DL hours: 4. Recorded actual MOH costs of $205 (consisting of accrued liabilities of $120 and factory related depreciation of $85 ). 5. Applied MOH costs using a budgeted MOH rate of $13 per DL hour 6. Recognized cost of goods completed of $480

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