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Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its
Metal Works, Inc. computes its predetermined overhead rate annually on the basis of machine hours. At the beginning of the year it estimated that its total manufacturing overhead would be $153,360 and the total machine hours would be 21,600. Its actual manufacturing overhead for the year was $153,127.62 and its actual machine hours was 21,823 hours. a. What is the company's Pre-determined Overhead Rate? b. What amount of Overhead would be applied to the units of of product during the year? C. Is the Overhead Over or Under Applied? d. By how much is the Overhead Over/Under Applied
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