QS $15-18($Algo$)$ Computing and recording over$-$ or underapplied

overhead LO P$4$

A company applies overhead at a rate of $190\%$ of direct labor cost. Actual overhead

cost for the current period is $$1,220,700,$ and direct labor cost is $$633,000.$

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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