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The following information relates to Araceli Manufacturing Company:
total estimated manufacturing overhead cost at beginning of year $864,000predetermined overhead rate (based on machine hours) $7.20 per hourtotal manufacturing cost incurred during the year $885,000total machine hours incurred during the year 118,000 hourWhat was Araceli's under applied or over applied overhead for last year?
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Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000
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