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Determine if the reasons why manufacturing overhead may be underapplied are true. The estimated total...

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Accounting

Determine if the reasons why manufacturing overhead may be underapplied are true.
The estimated total manufacturing overhead cost may have been too high.
The estimated total amount of the allocation base may have been too low.
Multiple Choice
Only statement 2 is true.
Only statement 1 is true.
Neither statement is true.
Both statements 1 and 2 are true.
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