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Manufacturing Overhead rate
= Estimated overhead/Estimated machine hours
= 283,725/126,100
= 2.25 per machine hour
Applied overhead = 2.25*130,200 = 292,950
Underapplied overhead = 303,850 - 292,950
Underapplied overhead = 10,900
General journal | Debit | Credit |
Cost of Goods Sold | 10900 | |
Manufacturing overhead | 10900 |
(to record underapplied overhead)
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