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Dispose of overhead variance by adjusting cost of goods sold

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Problem - At the end of the year, Estes Company provided the following actual information: Estes uses normal costing and applies overhead at the rate of 75% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,670,000.

Required - Dispose of the overhead variance by adjusting Cost of Goods Sold.

Reference no: EM132870170

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