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Developing and Using a Predetermined Overhead Rate Assume that the following predictions were made for...

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Developing and Using a Predetermined Overhead Rate Assume that the following predictions were made for 2009 for one of the plants of Milliken & Company: Total manufacturing overhead for the year $40,000,000 Total machine hours for the year 2,000,000 Actual results for February 2009 were as follows: Manufacturing overhead $5,480,000 Machine hours 310,000 (a) Determine the 2009 predetermined overhead rate per machine hour. $ 20 (b) Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-in-process during February. $ 6,200,000 (c) As of February 1, actual overhead was underapplied by $500,000. Determine the cumulative amount of any overapplied or underapplied overhead at the end of February. $ 810,000 X

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