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Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $148,000 based on a budgeted volume

Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $148,000 based on a budgeted volume of 37,000 machine-hours. Actual overhead amounted to $154,000 with actual machine-hours totaling 37,500.

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What was over- or underapplied manufacturing overhead in August?

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