9-21 Computation of overhead absorption rate, and over/under absorption. Yokojo Ltd specializes in the servicing of Japanese vehicles. The following is Yokojo's budget for 2020: The following ac Fixed overhead is absorbed on the basis of labor hours. 1. Calculate overhead absorption rate. 2. Calculate the absorbed overhead for the two months, indicating the extent of over or under absorption of overhead in the two months. 3. Explain the reasons for under- or over absorption of overheads