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Problem 7-47 (Algo) Estimate Machine-Hours Worked from Overhead Data (LO 7-3) Melbourne Company estimated that machine-hours for the year would be 40,200 hours and overhead
Problem 7-47 (Algo) Estimate Machine-Hours Worked from Overhead Data (LO 7-3) Melbourne Company estimated that machine-hours for the year would be 40,200 hours and overhead (all fixed) would be $168,840. Melbourne applies its overhead on the basis of machine-hours. During the year, all overhead costs were exactly as planned ($168,840). There was $16,380 in overapplied overhead. Required: How many machine-hours were worked during the period? (Do not round intermediate calculations.)
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