Overapplied overhead equals $50,000. The journal entry to close the balance in the Factory Overhead account to Cost of Goods Sold includes a credit to Cost of Goods Sold for $50,000.

T/F

Dane Company budgets total overhead cost of $7,200,000. The company allocates overhead cost based on 100,000 budgeted direct labor hours. The single plantwide overhead rate is:

Multiple Choice

• $72 per DLH.

• None of the above.

• $36 per DLH.

• $36 per MH.

• $72 per MH.

• 
  

Answer rating: 100% (QA)

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