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Hancock Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Hancock estimated total overhead of $299,600; materials of $404,000 and direct labor of $214,000. During the year Hancock incurred $412,000 in materials costs, $412,600 in overhead costs and $218,000 in direct labor costs. Compute the amount of overhead applied to jobs during the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9976894

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