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A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $311,668 and direct labor hours would be 44,524. Actual factory overhead costs incurred were $349,480, and actual direct labor hours were 52,006. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year?
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