Beaver Company used a predetermined overhead rate last year of $2 per direct labour hour,based on an estimate of 25,000 direct labour hours to be worked during the year.Actual costs and activity during the year were: 
The underapplied or overapplied overhead last year was:
Definitions:
Market Price
The existing rate at which a product or service is available for purchase or sale in a specific market.
Patent Protection
Legal rights granted to inventors preventing others from making, using, or selling their invention for a limited period.
United States
A country located in North America, consisting of 50 states and a federal district, known for its significant influence on global economy, culture, and politics.
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The overall benefit to society, measuring the difference between total benefits and total costs when any action or policy is implemented.
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