If the overhead applied rate based on direct labor hours is $7.00 and the actual labor hours are 500,what is the amount credited to Manufacturing Overhead-Applied?

Name: If the overhead applied rate based on direct labor hours is $7.00 and the actual labor hours are 500,what is the amount credited to Manufacturing Overhead-Applied?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The overhead applied is calculated by multiplying the overhead rate by the actual labor hours: $7.00 * 500 hours = $3,500.

If the Overhead Applied Rate Based on Direct Labor Hours