31 Terrence Industries charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of labor hours. The following data pertain to the current year: (8 04:22:17 Budgeted manufacturing overhead Actual manufacturing overhead Budgeted labor hours Actual labor hours $2,300,000 2,313,000 115,000 116,750 Print Which of the following choices is the correct status of manufacturing overhead at year-end? Multiple Choice Overapplied by $13,000. Underapplied by $13,000. o Overapplied by $22,000. o Underapplied by $22,000. o o Overapplied by $35,000