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Business, 20.09.2020 14:01 jpimentel2021

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.)

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