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Compute the under- or overapplied overhead

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Reference no: EM133184577

Question - A company applies overhead at a rate of 190% of direct labor cost. Actual overhead cost for the current period is $1,220,700, and direct labor cost is $633,000.

1. Compute the under- or overapplied overhead.

2. Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold.

Reference no: EM133184577

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