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In January, Reyes Tool & Die requisitions raw materials for production as follows:
Job 1 $920,
Job 2 $1,200,
Job 3 $710, and
Question 1: What will the summary journal entry to record raw materials used look like?
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This individual assignment is based on the TerraCycle Inc.
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A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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