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Tiffany charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the

Tiffany charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year:

Budgeted Manufacturing Overhead $1,800,000
Actual Manufacturing Overhead $1,810,000
Budgeted Labor Hours 60,000
Actual Labor Hours 61,500

Which of the following choices is the correct status of manufacturing overhead at year-end?

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