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Spencer Inc.applies overhead to production at a predetermined rate of 80% based on direct labor cost.Job No.130 the only job still in process at the end of August has been increased with manufacturing overhead of $6400.What was the amount of direct materials added to Job 130 assuming the balance in Work in Process inventory is $20000?
Implied Warranty
A legal assumption in a sale that the goods or services are fit for the intended purpose, even if not explicitly stated.
Merchantability
A warranty that a product will meet reasonable expectations of quality and perform as generally expected by consumers.
Basis-of-the-Bargain
A legal concept that refers to the conditions and terms that are regarded as crucial in a contractual agreement between parties.
Tort Cases
Legal disputes where one party alleges harm caused by another's wrongful act, seeking compensation for suffered damages.
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