2 A company allocates overhead at a rate of 150% of direct labor cost. Actual overhead cost for the current period is $950,000, and direct labor cost is $600,000. Determine whether there is over- or underapplied overhead using the T-account below. oints Factory Overhead 0055 48 Actual overhead Overhead applied 950.000 900,000 eBook Underapplied overhead 50000 1.900,000 References