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4. LL Co charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain

4. LL Co charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year: Budgeted manufacturing overhead: $1,080,000 Actual manufacturing overhead: $945,000 Budgeted labor hours: 45,000 Actual labor hours: 31,500 Is manufacturing overhead overapplied or underapplied at year-end?

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