Solved: What was the budgeted level of machine hours, Cost Accounting

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What was the budgeted level of machine hours

Response to the following problem:

A company uses a predetermined overhead recovery rate based on machine hours. Budgeted factory overhead for a year amounted to R720 000, but actual factory overhead incurred was R738 000. During the year, the company absorbed R714 000 of factory overhead on 119 000 actual machine hours. What was the company's budgeted level of machine hours for the year?

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Cost Accounting: What was the budgeted level of machine hours

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