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How much overhead was applied to inventory

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Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $305,000 of Fixed Overhead and had the following variances before closing entries.

FOH Budget Variance - $9,000 F

FOH Volume Variance - $9,000 Underapplied

VOH Spending Variance - $1,000 F

VOH Efficiency Variance - $7,000 U

How much overhead was applied to inventory over the course of the year?

Reference no: EM132067597

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