Prepare journal entries to record the following production

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Prepare journal entries to record the following production activities for Sherman Manufacturing.

a. Dec. 28 Incurred overhead costs of $79,000 (paid in cash).

b. Dec 29 Applied overhead at 110% of direct labor costs which are $93,900.

c. Dec 30 Transferred completed products with a cost of $258,200 to finished goods inventory.

d. Dec 31 Sold $602,000 of product on credit. Cost is $271,000.

Reference no: EM13453161

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