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Review the journal entries to: Purchase materials Requisition both direct and indirect materials for...

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Accounting

Review the journal entries to:

  1. Purchase materials
  2. Requisition both direct and indirect materials for use
  3. Pay both direct and indirect labor
  4. Apply factory overhead based on the predetermined manufacturing overhead rate
  5. Move the goods from work in process to finished goods when completed
  6. Sell a completed item
  7. Close Factory overhead to Cost of Goods Sold if it is over/under allocated

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