A manufacturing company applies overhead based on direct labor hours. At the beginning of the year, it estimated that overhead costs would be $720,000 and direct labor hours would be 90,000 . Actual overhead costs incurred were $754,400, and actual direct labor hours were 92,000 . What is the amount of overapplied or underapplied overhead at the end of the year?
a. $34,400 overapplied
b. $18,400 overapplied
c. $34,400 underapplied
d. $18,400 underapplied
D
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