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Rist Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in

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Rist Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation estimated that it would incur $255,000 in manufacturing overhead during the year and that it would work 100,000 machine-hours. The Corporation actually worked 105,000 machine-hours and incurred $270,000 in manufacturing overhead costs. By how much was manufacturing overhead under or overapplied for the year? Cash Collections Budget Miller has projected the following sales amounts: July $ 520,000 September $ 510,000 August $ 560,000 October $ 600,000 Miller's sales are all on account and Miller collects its receivables in the following manner: 50% in the month of sale, 40% in the month following the sale, and the final 10% in the second month following the sale. Calculate projected cash collections in October

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