During 2018, a company reported an increase in the deferred tax liability account of $77,990, an increase in the deferred tax asset account of $35,325, and an income tax liability as per the 2018 income tax return of $398,555.
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Pinnacle Corp. budgeted $259,470 of overhead cost for the current year. Actual overhead costs for the year were $209,420. Pinnacle's plantwide allocation base, machine hours, was budgeted at 49,190 hours. Actual machine hours were 56,270.
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