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Problem 2. The following information relates to the Wisdom Company: Budgeted machine hours 31,000 Actual machine hours 32,400 Budgeted factory overhead $155,000 Actual factory overhead

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Problem 2. The following information relates to the Wisdom Company: Budgeted machine hours 31,000 Actual machine hours 32,400 Budgeted factory overhead $155,000 Actual factory overhead $158,500 Machine hours is the driver for the Wisdom Company Required: How much is the amount of over or underapplied overhead

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