Question: A company applies overhead at a rate of 1 7 0 % of direct labor cost. Actual overhead cost for the current period is $

A company applies overhead at a rate of 170% of direct labor cost. Actual overhead cost for the current period is $1,050,800, and direct labor cost is $609,000.
Compute the under- or overapplied overhead.
Prepare the journal entry to close over- or underapplied overhead to Cost of Goods Sold.

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