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Goods in process inventory account of a manufacturing company that uses an overhead rate based on the direct labor cost has a 4,400 debit balance
Goods in process inventory account of a manufacturing company that uses an overhead rate based on the direct labor cost has a 4,400 debit balance after all posting is completed. the cost sheet of the one job still in process shows direct materialcost of 2,000 and direct labor cost of 800. Therefore the companys overhead application rate is
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