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Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $452,000, and direct labor
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $452,000, and direct labor costs to be $2,260,000. Actual overhead costs for the year totaled $419,000, and actual direct labor costs totaled $1,930,000. At year-end, Factory Overhead is: Overapplied by $33,000. Overapplied by $209,500. Underapplied by $33,000. Overapplied by $66,000. Neither overapplied nor underapplied
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