Precision Corporation used a predetermined overhead rate last year of $3 per direct labor-hour, based on an estimate of 24,000 direct labor-hours to be worked during the year. Actual costs and activity during the year were: Actual manufacturing overhead cost incurred$84,000Actual direct labor-hours worked 27,000 The overapplied or underapplied manufacturing overhead for the year was:
A. $3,000 overapplied
B. $3,000 underapplied
C. $12,000 underapplied
D. $12,000 overapplied
Answer: B
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a. True b. False Indicate whether the statement is true or false
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