Question: If the actual overhead for the year is $57,935 and the applied overhead is $57,415, determine whether the overhead is overapplied or underapplied. Then, prepare

If the actual overhead for the year is $57,935 and the applied overhead is $57,415, determine whether the overhead is overapplied or underapplied. Then, prepare the journal entry necessary to reconcile overhead, assuming the variance is immaterial.

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