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Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $337,770 for the year, and machine usage is estimated at 125,100 hours.

For the year, $357,866 of overhead costs are incurred and 130,900 hours are used.
Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)
Manufacturing overhead rate: $2.70 per machine hour
What is the amount of under- or overapplied overhead at December 31?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9965552

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