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Question - During 2015, Thompson Company applied overhead using a job-order costing system at a rate of $15 per direct labor hour. Estimated direct labor hours for the year were 110,000, and estimated overhead for the year was $1,650,000. Actual direct labor hours for 2015 were 100,000, and actual overhead was $1,520,000. What is the amount of under- or over-applied overhead for the year?
$130,000 under-applied
$20,000 under-applied
$130,000 over-applied
$20,000 over-applied
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?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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