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ACC 3040 Week 1 Assignment 3 Updated

  • ACC 3040 Week 1 Assignment 3 Updated
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ACC 3040 Week 1 Assignment 3 Updated

Problem 1

The following data (in thousands of dollars) have been taken from the accounting records of ACME Corporation for the completed year.                        

Problem 2

Morrison and Company uses a predetermined overhead rate. Overhead for the next twelve months is estimated to be $400,000. The company applies overhead as a percentage of direct labor cost, which is estimated to be $500,000 for the next year. During the year, actual direct labor cost amounted to $520,000 and the actual overhead was as outlined below:   

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