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During its most recent period, Raymond Manufacturing expected a job to cost $600,000 of overhead,...

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Accounting

During its most recent period, Raymond Manufacturing expected a job to cost $600,000 of overhead, $1,000,000 of materials, and $400,000 in labor. Raymond applies overhead based on direct labor cost. Actual production required an overhead cost of $590,000, materials of $1,140,000 were used, and $440,000 in labor. Is overhead over- or underapplied and by how much? *

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