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Nelson Manufacturing applies overhead to its manufactured products based on direct labor hours. Last year, total overhead costs were estimated to be $100,000. Actual overhead costs ended up totaling $115,000 when 10,000 direct labor hours were actually worked. At the end of the year, overhead was overapplied by $6,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9981543

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