The following information about the Zhang Company is available on December 31:
The company applies overhead on the basis of 125% of direct labor costs. Calculate the amount of over- or underapplied overhead.
Definitions:
Debt
An obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor.
Charleston
A historic city in South Carolina, known for its rich history, well-preserved architecture, and as a pivotal site in both the American Revolution and Civil War.
Richest City
A city characterized by a high level of economic wealth, typically measured by gross domestic product (GDP) per capita, high average incomes, and a high standard of living.
British North America
The term given to British colonies in North America, mainly consisting of Canada and the Caribbean, before their independence or formation into present-day countries.
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