E 2 Brief Exercise 4 23 Overhead Variance (Over or Underapplied), Closing to Cost ple 4 2 of Goods Sold At the end of the year, Ilberg Company provided the following actual information $423,600 532,000 Direct labor cost nberg uses normal costing and applies overhead at the rate of80 ofdirect labor cost At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,890,000 Required I Calculate the overhead variance for the year 2 Dispose of the overhead variance by adjusting Cost of Goods Sold

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E 2 Brief Exercise 4 23 Overhead Variance (Over  or Underapplied), Closing to Cost ple 4 2 of Goods Sold At the end of the year, Ilberg Company provided the following actual information  $423,600 532,000 Direct labor cost nberg uses normal costing and applies overhead at the rate of80  ofdirect labor cost  At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,890,000  Required  I  Calculate the overhead variance for the year 2  Dispose of the overhead variance by adjusting Cost of Goods Sold

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E 2 Brief Exercise 4-23 Overhead Variance (Over- or Underapplied), Closing to Cost ple 4.2 of Goods Sold At the end of the year, Ilberg

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