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Question - Winston Company estimates that .total factory overhead for the following year will be $594,300. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 28,300 hours. The total actual machine hours for the year were 54,200 hours. The actual factory overhead for the year was $1,154,000. Enter the amount as a positive number.
Required -
a. Determine the total factory overhead applied during the year.
b. Compute the over- or under-applied factory overhead for the year.
c. Journalize the entry to close Factory Overhead to Cost of Goods Sold.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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