Using the following accounts and an overhead rate of 70% of direct labor cost, determine the amount of applied overhead. Work in Process Inventory
Beginning WIP 23,900
Direct Materials 71,700
Direct Labor ?
Applied Overhead ?
To Finished Goods
Ending WIP 39,190

Finished Goods Inventory
Beginning FG 5500
150610
Ending FG

the applied overhead is $38,788.24

Explanation:

The computation of the amount of overhead applied is given below:

0.70 ÷ 1.70 × applied overhead + $23,900 + $71,700 = $39,190 + $150,610  

0.70 ÷ 1.70  × applied overhead = $94,200

applied overhead is

= $38,788.24

Hence, the applied overhead is $38,788.24

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