Solution a:
Manufacturing Overhead rate = Estimated manufacturing overhead / Estimated machine hours
= $280896 / 125400= $2.24 per machine hour.
Solution b:
under applied overhead = Actual Overhead - Applied Overhead
= $400896 - ($2.24*130400) = $108,800 underapplied
Solution c:
The adjustment to assign underapplied overhead to Cost of goods sold will decrease manufacturing overhead and increase cost of goods sold.
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