E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overhead, and Over- or Underapplied Manufacturing Overhead...

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E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overhead, and Over- or Underapplied Manufacturing Overhead [LO 2-3, 2-5] Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning o company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing over machine hours were $372,000 and 26,000, respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over- or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. Predetermined Overhead Rate per Machine Hour E2-7 (Static) Calculating Overhead Rates, Actual and Applied Manufacturing Overhead, and Over- or Underapplied Manufacturing Overhead [LO 2-3, 2-5] Cambridge Manufacturing Company applies manufacturing overhead on the basis of machine hours. At the beginning o company estimated its total overhead cost to be $325,000 and machine hours to be 25,000. Actual manufacturing over machine hours were $372,000 and 26,000, respectively. Required: 1. Compute the predetermined overhead rate. 2. Compute applied manufacturing overhead. 3. Compute over- or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. Predetermined Overhead Rate per Machine Hour