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Assume that the following predictions were made for last year for one of the plants of Milliken & Company: Total manufacturing overhead for the
Assume that the following predictions were made for last year for one of the plants of Milliken & Company: Total manufacturing overhead for the year $15,000,000 Total machine hours for the year 1,200,000 Actual results for February were as follows: Manufacturing overhead $1,238,500 Machine hours 98,500 (a) Determine the predetermined overhead rate per machine hour. (Enter answer using two decimal places.) $ (b) Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-in-Process during February. (c) As of February 1, actual overhead was overapplied by $35,000. Determine the cumulative amount of any overapplied or underapplied overhead at the end of February. $
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