13) Sanford Company applies overhead based upon machine hours. Actual factory overhead was $581,000 and actual machine hours were 38,100. Budgeted factory overhead was $534,600 and budgeted machine hours were 36,000. Before disposition of under/over-applied overhead, the cost of goods sold was $1,120,000 and ending inventory balances were as follows: Direct materials $ 120,000 WIP 380,000 Finished goods 500,000 Total $1,000,000 Refer to info in .pdf in Moodle for the "Stanford Company" a) Determine the budgeted factory-overhead rate per machine hour. Answer: 1 Refer to info in .pdf in Moodle b) Determine the budgeted factory-overhead amount that was applied (to the nearest dollar). Answer: c) Was manufacturing overhead over applied or underapplied? Select one: o a. underapplied O b. overapplied