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Estimated overhead and direct labor costs for the year were $114,500 and $124,700, respectively. During the year, actual overhead was $107,100 and actual direct labor

Estimated overhead and direct labor costs for the year were $114,500 and $124,700, respectively. During the year, actual overhead was $107,100 and actual direct labor cost was $117,000. The entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include (Round predetermined overhead rate to nearest whole percentage.)

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