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Morrison Company uses a job-order costing system to assign manufacturing costs to jobs. Its balance sheet on January 1 is as

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Cash Accounts payable 9,000 85,200 Retained Earnings 256,225 (38,850) 33,150 Transaction Beginning balances @ 1/1 a) Raw mate

Working Notes: Calculation of Manufacturing Overhead: Indirect Material Indirect labor Various overhead costs Depreciaiton (8

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