16. A company uses a predetermined overhead rate of $20.10 per direct labor hour. This predetermined rate was estimated based on 13,900 direct labor hours that costs of $279,390. At the end of the period, the company realizes that it actually incurred $277,000 of manufacturing overhead and 13,400 direct labor-hours during the period. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 4. Underapplied by $7,660 Overapplied by $7,660 Underapplied by $2,390 Overapplied by $2,390