(Answered) Question - mark corporation estimates its manufacturing

Accounting

Question - Mark Corporation estimates its manufacturing overhead to be $110,000 and its direct labor costs to be $220,000 for year 1. The actual direct labor costs for the year include:

Job 301 $60,000

Job 302 82,000

Job 303 98,000

The actual manufacturing overhead was $121,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using predetermined rates. What was the over- or underapplied manufacturing overhead for year 1?

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