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Apply overhead using ABC (10 points) Erskine Company uses activity-based costing to compute product costs...

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Accounting

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Apply overhead using ABC (10 points) Erskine Company uses activity-based costing to compute product costs for external reports. The company has three activity centers and applies overhead using predetermined overhead rates for each activity center. Estimated costs and activities for the current year are presented below for Actual costs and activities for the current year were as follows: Required: Open the attached file and complete the following requirements. a. What are the overhead rates? How much total overhead was applied to products during the year? Show and label your work. b. By how much was overhead overapplied or underapplied? (Be sure to clearly show your calculations for rates and application of overhead. Make sure to label clearly as to whether the overhead was overapplied or underapplied.)

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