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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 $6,465 debit balance
The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $6,465 debit balance after all posting Is completed. The cost sheet of the one Job still In process shows direct material cost of $2,500 and direct labor cost of $1,300. Therefore, the company's overhead application rate Is: 49%. 52%. 107%. 205%. 192%
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