A company allocates overhead at a rate of 150% of direct labor cost. Actual overhead cost for

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A company allocates overhead at a rate of 150% of direct labor cost. Actual overhead cost for the current period is $475,000, and direct labor cost is $300,000. Prepare the entry to close over- or underapplied overhead to cost of goods sold.

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Managerial Accounting

ISBN: 978-0073379586

2010 Edition

Authors: John J. Wild, Ken W. Shaw

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