Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable...
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Accounting
Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $294,000 of Fixed Overhead and had the following variances before closing entries.
FOH Budget Variance :$2,000 F
FOH Volume Variance : $7,000 U
VOH Spending Variance : $9,000 F
VOH Efficiency Variance : $1,000 U
How much overhead was applied to inventory over the course of the year? (Answer in dollars)
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