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Question
Flagler Company allocates factory overhead based on machine hours. It estimated total factory overhead costs for the year to be $420,000 and estimated machine hours to be 50,000. Actual hours and costs for the year were 46,000 machine hours and $380,000 of factory overhead.
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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