Rajiv’s Textiles uses a predetermined factory overhead rate based on machine-hours. For October, Rajiv’s budgeted overhead was $2,520,000 based on a budgeted volume of 420,000 machinehours.
Actual overhead amounted to $2,730,000 with actual machine-hours totaling 462,000.
Required By how much was overhead overapplied or underapplied?