Calculate the overhead variance for the year

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Problem - At the end of the year, Ilberg Company provided the following actual information: Ilberg uses normal costing and applies overhead at the rate of 80% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,890,000.

Required -

1. Calculate the overhead variance for the year.

2. Dispose of the overhead variance by adjusting Cost of Goods Sold.

Reference no: EM132699890

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