3:56 A company allocates overhead at a rate of 155% of direct labor cost. Actual overhead cost for the current period is $1,130,000, and direct labor cost is $595,000. Determine whether there is over- or underapplied overhead using the T-account below. Actual overhead Factory Overhead 1,130,000 922,250 Overapplied overhead Underapplied overhead 207,750 Actual overhead Direct labor cost Estimated overhead. Overapplied overhead