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The Owe Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last year was $200,000, and there were
The Owe Company uses the machine hour method of applying factory overhead to production. The budgeted factory overhead last year was $200,000, and there were 40,000 machine hours budgeted. Actual machine hours incurred during the period were 38,000, and actual factory overhead was $215,000. What was the amount of under- or overapplied factory overhead
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