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Compute over or under absorption of overhead

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Question - ABC Enterprises produces product M and adopts the policy to recover factory overheads by applying a blanket rate based on machine hours. The cost records reveal the following information for the year 2020-21- Budgeted production overheads = Rs. 10,35,000; Budgeted machine hours = 90,000; Actual machine hours worked = 86700; Actual production overhead = Rs. 9,80,000. Compute over or under absorption of overhead.

Reference no: EM133020291

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