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The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter.

2. Change all of the numbers in the data area of your worksheet so that it looks like this:

If your formulas are correct, you should get the correct answers to the following questions.

(a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.)

(b) By how much is the manufacturing overhead underapplied or overapplied?