Kipper Company made the following data available from its accounting records and reports: (a) $800,000 estimated factory

Question:

Kipper Company made the following data available from its accounting records and reports:
(a) $800,000 estimated factory overhead/200,000 estimated machine hours = $4 predetermined factory overhead rate
(b) During the year, the company used 210,000 machine hours. Actual factory overhead was $832,000.
Required:
Compute the over- or under applied factory overhead amount for the year.