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Compute the predetermined overhead rate and determine the amoutn of manufacturing over
Colby Company estimates that annual manufacturing overhead cost will be $80,000. Estimated annual operating activity bases are: direct labor cost $46,000, direct labor hours 40,000 and machine hours 80,000. The actual manufacturing overhead overhead cost for the year was $801,000 and the actual direct labor cost for the year was $446,000. Actual direct labor hours totaled 40,200 and machine hours totaled 79,000. Colby applies overhead based on direct labor hours
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