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9. Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $465,500 based on a budgeted
9. Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $465,500 based on a budgeted volume of 49,000 machine-hours. Actual overhead amounted to $412,000 with actual machine-hours totaling 43,500.
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What was over- or underapplied manufacturing overhead in August? (Do not round intermediate calculations.)
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