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Tiffany charges manufacturing overhead of products by using predetermined application rates computed on the basis of Labor hours. The following data pertain to the current

  1. Tiffany charges manufacturing overhead of products by using predetermined application rates computed on the basis of Labor hours. The following data pertain to the current year:
    1. budgeted manufacturing overhead $1,800,000
    2. actual manufacturing overhead $1,810,000
    3. budgeted labor hours 60,000
    4. actual labor hours 61,500

Was manufacturing overhead over applied or under applied for the year and by how much?

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