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1. If a company incurred $6,000 in actual overhead costs and allocated $6,500 to jobs, was the overhead overallocated or underallocated? 2. By how much?

1. If a company incurred $6,000 in actual overhead costs and allocated $6,500 to jobs, was the overhead overallocated or underallocated?

2. By how much?

3. Give the journal entry to adjust the Manufacturing Overhead account for overallocated or underallocated overhead.

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