Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable...
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Li Pong company uses a standard costing system. Last year they incurred $100,000 of Variable Overhead and $304,000 of Fixed Overhead and had the following variances before closing entries. FOH Budget Variance - $3,000 F FOH Volume Variance - $5,000 U VOH Spending Variance - $9,000 F VOH Efficiency Variance - $8,000 U How much overhead was applied to inventory over the course of the year?
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