Use the information below to answer the following question(s) .
Selected data about Babcox Manufacturing Ltd. operations follows:
-By how much was manufacturing overhead overallocated or underallocated for the year if Babcox Manufacturing Ltd. uses a predetermined manufacturing overhead rate based on direct labour hours?
Definitions:
Type II Error
A statistical error that occurs when a false null hypothesis is not rejected, also known as a "false negative" finding.
Two-Tailed Hypothesis
A form of statistical hypothesis testing where the alternative hypothesis specifies that the parameter of interest differs from the null hypothesis.
Population Mean
The average value of all the members of a set or population, denoting the central tendency.
Null Hypothesis
An assumption made for a statistical test that there is no significant difference or effect, to be tested against the alternative hypothesis.
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