Business, 08.03.2021 20:10 lenaaemersonn2

Terrence Industries charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year: Budgeted manufacturing overhead $1,800,000
Actual manufacturing overhead 1,810,000
Budgeted labor hours 60,000
Actual labor hours 61,500

What is the correct status of manufacturing overhead at year-end?

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