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MMM (Mickey Mouse Manufacturing) applies manufacturing overhead at a rate of 150% of direct labor cost. During October MMM incurred $40,000 of direct materials cost,
MMM (Mickey Mouse Manufacturing) applies manufacturing overhead at a rate of 150% of direct labor cost. During October MMM incurred $40,000 of direct materials cost, $80,000 of direct labor cost and $120,000 of manufacturing overhead costs. What is the amount of over or under applied manufacturing overhead for October?
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