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Tom's Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Tom's budgeted overhead was $328,000 based on a budgeted volume
Tom's Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Tom's budgeted overhead was $328,000 based on a budgeted volume of 41,000 machine-hours. Actual overhead amounted to $317,500 with actual machine-hours totaling 39,500. Required: What was over- or underapplied manufacturing overhead in August? (Do not round intermediate calculations.) overhead
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