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QUESTION 1 1. Distinguish between actual manufacturing overhead and applied manufacturing overhead 2. Are two separate accounts required in the general ledger of a cost

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QUESTION 1 1. Distinguish between actual manufacturing overhead and applied manufacturing overhead 2. Are two separate accounts required in the general ledger of a cost accounting system to accumulate actual versus applied manufacturing overhead? Explain. 3. What is a predetermined overhead rate and WHY is such a rate needed? 4. On what bases can a predetermined overhead rate be defined? Explain clearly and illustrate. T T T Arial 3 (12pt)

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