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Accounting

Problem:

Simone uses a predetermined overhead application rate of $8 per direct labor hour. A review of the company's accounting records for the year just ended discovered the following:

Underapplied manufacturing overhead: $7,200
Actual manufacturing overhead: $392,000
Budgeted labor hours: 50,000

Simone's actual labor hours worked totaled:

A. $48,100

B. $49,100

C. $49,900

D. $50,900

E. cannot be determined based on the information presented

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165741

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