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The company applies overhead to jobs at a rate of $40 per direct labor hour. During the year the company used a total of 11,643

The company applies overhead to jobs at a rate of $40 per direct labor hour. During the year the company used a total of 11,643 direct labor hours. The company budgeted overhead of $501,365. Actual overhead was 564,626. By how much was overhead underapplied?

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