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QUESTION 2 Quiz Company uses a normal, functional-based (traditional) cost system and applies overhead based...

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Accounting

QUESTION 2 Quiz Company uses a normal, functional-based (traditional) cost system and applies overhead based on direct labor hours. The following information is available for the year Overhead cost Direct labor hours Estimated $400,000 40,000 Actual $440,000 50,000 Calculate the applied overhead for the year Note: Give our answer using dollar signs and commas but not decimal points (cents) Example: $12,345

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