
INTERMEDIATE ACCOUNTING(LL)+ACCESS
17th Edition
ISBN: 9781119503583
Author: Kieso
Publisher: JOHN WILEY+SONS INC.
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Please explain the solution to this general accounting problem with accurate principles.
Steel Manufacturing uses a job order costing system. During one month, Steel purchased $188,000 of raw materials on credit; issued materials to the production of $215,000 of which $10,000 were indirect. Steel incurred a factory payroll of $159,000, of which $20,000 was indirect labor. Steel uses a predetermined overhead rate of 150% of direct labor cost. The total manufacturing costs added during the period are___.
Financial Accounting
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