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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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