MC Qu. 99 The Work in Process Inventory account. The Work in Process Inventory account of a manufacturing company that

MC Qu. 99 The Work in Process Inventory account. The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $5,220 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $2,200 and direct labor cost of $1,000. Therefore, the company’s overhead application rate is:


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