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A Firm Had the Following Balances at the End of the Period

question 72

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A firm had the following balances at the end of the period:  Work in process $400 Finished goods 600 Cost of goods sold 1,000 Overapplied overhead 400\begin{array} { l r } \text { Work in process } & \$ 400 \\\text { Finished goods } & 600 \\\text { Cost of goods sold } & 1,000 \\\text { Overapplied overhead } & 400\end{array} It was determined that the overapplied overhead should be treated as immaterial. After any adjustments for overapplied overhead are made, the balance of work in process would be:

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A methodical approach to planning and executing marketing strategies to achieve business objectives.

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