(Answered) Question - sofa manufacturers applies overhead on the basis

Accounting

Question - Sofa Manufacturers applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or over-application of overhead for the period:

Estimated annual overhead cost $1,500,000

Actual annual overhead cost $1,470,000

Estimated machine hours 300,000

Actual machine hours 290,000

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