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On June 1, 2012, Dalton Production Company had beginning balances as shown in the T-accounts below. During June, the following transactions took place:
June 2: Issue $2,400 of direct materials and $200 of indirect materials to production.
June 13: Pay $7,500 of direct factory labor cost, and $14,100 of indirect factory labor cost.
Following these transactions, what was the balance in the Manufacturing overhead account?
Final Payment
The last payment made to settle the balance of a financial obligation, such as a loan or mortgage.
Borrower
An individual, company, or institution that receives funds from a lender under the condition of paying back the borrowed amount plus interest.
Compounded Monthly
Interest calculated monthly on the principal sum plus previously earned interest.
Equal Payments
Regularly scheduled payments of the same amount, common in loans and amortization plans.
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