(Answered) Exercise - digger inc sells a high-speed retrieval system

Accounting

Exercise - Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

Budgeted vs Actual

Overhead cost $1,122,000 $1,092,000

Machine hours 56,200 48,700

Direct labor hours 102,000 98,000

Compute the predetermined overhead rate.

Determine the amount of overhead applied for the year.

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