21. The Goods in Process Inventory account of a manufacturing company that uses an overhead...
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21. The Goods in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $4,400 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $2,000 and direct labor cost of $800. Therefore, the company's overhead application rate is: A. 40% B. 50% C. 80% D. 200% E. 220%
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