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The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,800 debit balance

The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,800 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $1,760 and direct labor cost of $780. Therefore, the amount of the applied overhead is:

$2,040.

$2,540.

$1,260.

$780.

$3,020.

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