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You will use the following information for questions 1 through 3 : Jaguar Company...

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Accounting

You will use the following information for questions 1 through 3 :
Jaguar Company employs a normal costing system. The following information is from the financial records of the company for the year.
Total manufacturing costs were $2,500,000.
Cost of goods manufactured was $2,425,000
Applied factory overhead was 30% of total manufacturing costs.
Factory overhead was applied to production at a rate of 80% of direct labor cost.
Work-in-process inventory at January 1 was 75% of work-in-process inventory at December 31.
The carrying value of Jaguar Company's work-in-process inventory at December 31 is
75,000
$100,000
$300,000
$225,000
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