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Explain and provide an example for the following job order cost system entries: actual manufacturing overhead...

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Accounting

Explain and provide an example for the following job order costsystem entries: actual manufacturing overhead used in production,estimated manufacturing overhead applied in production and cost ofgoods manufactured transferred from the production floor to thewarehouse. For each journal entry, identify if the cost beingrecorded is a product cost or a period cost.

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Account Title and Explanation Debit Credit 1 Manufacturing overhead xxx CashAccounts payableRaw materialsWages payable xxx To record manufacturing overhead used in production 2 Work in process inventory xxx Manufacturing overhead xxx To record manufacturing overhead    See Answer
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