Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August,...
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Toms Tool & Die uses a predetermined factory overhead rate based on machine-hours. For August, Toms budgeted overhead was $609,500 based on a budgeted volume of 53,000 machine-hours. Actual overhead amounted to $520,000 with actual machine-hours totaling 45,500. Required: What was over- or underapplied manufacturing overhead in August? (Do not round intermediate calculations.)
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