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Question
Crain Company budgeted 35,000 direct labor hours and incurred 40,000 direct labor hours during the year. It estimated factory overhead at $735,000 and actually incurred $780,000 of factory overhead costs for the year.
a. Compute the predetermined factory overhead rate for the year.
b. Compute the amount of applied factory overhead for the year.
c. Determine the amount of under- or overapplied factory overhead for the year.
Answer
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