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Question - XYZ company uses normal costing. Following are various Cost and inventory data for the just completed year.
Sales Revenue $450,000;
Adjusted Gross Profit $175,000;
Selling and admin expenses: $145,000;
Overapplied Overhead $15,000;
Prime Costs $155,000;
Work in process inventory has increased by $10,000;
Finished Goods inventory has decreased by $20,000.
Required - How much is the manufacturing overhead costs applied to work in process during the year.
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