Question: Please explain the correct approach for solving this general accounting question. XYZ Manufacturing uses machine hours to apply manufacturing overhead. The following data relates to

Please explain the correct approach for solving this general accounting question.

XYZ Manufacturing uses machine hours to apply manufacturing overhead. The following data relates to its most recent year: Estimated manufacturing overhead: $420, 000 Estimated machine hours: 10, 000 Actual manufacturing overhead: $415, 000 Actual machine hours: 10, 200 What is the predetermined overhead rate

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