Fortune Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. On October 1, the estimates for the month were: Manufacturing overhead$17,000Direct labor-hours 13,600During October, the actual results were: Manufacturing overhead$18,500Direct labor-hours 12,000The cost records for October will show:
A. Underapplied overhead of $3,500.
B. Overapplied overhead of $3,500.
C. Underapplied overhead of $1,500.
D. Overapplied overhead of $1,500.
Answer: A
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Fill in the blank(s) with the appropriate word(s).
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