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7-37 Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $190,000 based on a budgeted

7-37

Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $190,000 based on a budgeted volume of 38,000 machine-hours. Actual overhead amounted to $192,500 with actual machine-hours totaling 38,000.

Required:

What was over- or underapplied manufacturing overhead in August?

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