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just need answers no explanation needed.. be fast thanku Moving to the next question prevents changes to this answer Question of Question 1 6 points
just need answers no explanation needed.. be fast thanku
Moving to the next question prevents changes to this answer Question of Question 1 6 points You are the accountant for Mon Inc., a manufacturer of automobiles. Mon Inc. applies overhead using a pre determined overhead rate based on machine hours At the beginning of the year, manufacturing overhead was estimated to be $800,000, machine hours were estimated to be 250,000 hours, and direct labour hours were estimated to be 640,000 By the end of the year, the company actually used 248,000 machine hours, 622,000 direct labour hours, and incurred $789,000 in manufacturing overhead costs Part 1 Compute the company's pre-determined overhead rate (round two decimal places) Part 2 Determine the amount and indicate if the overhead is under-applied or over applied for the period Part 3 How will the adjustment to fix the under-applied or over-applied overhead from Part 2 impact net income? (Increase or Decrease?) Step by Step Solution
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