Walter company uses a job order costing system to

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26) Walter Company uses a job-order costing system to account for product costs. The following information pertains to 2004: Materials placed into production £140,000 Indirect labour 40,000 Direct labour (10,000 hours) 160,000 Depreciation of factory building 60,000 Other factory overhead 100,000 Increase in work-in-process inventory 30,000 Factory overhead rate is £18 per direct labour hour. What is the amount of under- or overapplied overhead for Walter Company in 2004?
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