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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 $714.000 based on a budgeted volume

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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 $714.000 based on a budgeted volume of 68.000 machine hours. Actual overhead amounted to $773,500 with actual machine hours totaling 69.500 Required What was over- or underapplied manufacturing overhead in August? (Do not round intermediate calculations.) overhead

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