Question: Flagler Company allocates overhead based on machine hours. It estimated overhead costs for the year to be $420,000. Estimated machine hours were 50,000. Actual hours

Flagler Company allocates overhead based on machine hours. It estimated overhead

Flagler Company allocates overhead based on machine hours. It estimated overhead costs for the year to be $420,000. Estimated machine hours were 50,000. Actual hours and costs for the year were 46,000 machine hours and $380,000 of overhead. SHOW ALL CALCULATIONS TO GET CREDIT (a) Calculate the predetermined factory overhead rate for the year. (b) What is the amount of applied overhead for the year? (c) What is the amount of under- or overapplied overhead for the year? Indicate whether it is over- or underapplied

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