Silverstone's production budget for July called for making 39,800 units of a single product. The firm's production standards allow one-half of a machine hour per unit produced. The fixed overhead budget for July was $35,024. Silverstone uses an absorption costing system. Actual activity and costs for July were: Units produced 36,754 Fixed overhead costs incurred $37,700
a. Calculate the predetermined fixed overhead application rate per machine hour that would be used in July. (Round your answer to 2 decimal places. Predetermined overhead application rate ??? per machine hour.
b. Calculate the fixed overhead applied to work in progress during July. (Do not round intermediate calculations).
Applied overhead: ???
c. Calculate the over- or underapplied fixed overhead for July. (Do not round intermediate calculations).
Fixed overhead: ???