Prepare the necessary journal entries from the following information for Grooms Company,which uses a perpetual inventory system.
Definitions:
Total Job Cost
The complete cost associated with a specific job or project, including materials, labor, overhead, and any other costs directly related to the project.
Job M825
A specific designation for a job or project, often used within a job-order costing system to track costs and progress.
Predetermined Overhead Rate
A calculated rate used to estimate the manufacturing overhead cost for a particular job or production process, calculated before costs are incurred.
Machine-Hours
A measure of production output or operation based on the number of hours machines are running.
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