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Tom's Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August,...

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Tom's Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Tom's budgeted overhead was $465,500 based on a budgeted volume of 49,000 machine-hours. Actual overhead amounted to 5412,000 with actual machine-hours totaling 43,500 Required: What was over-or underapplied manufacturing overhead in August? (Do not round intermediate calculations.)

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