41.A company uses machine hours as a basis for computing its predetermined overhead rate. Budgeted total overhead for 2016 is $400,000, and budgeted machine hours for 2016 are 50,000. The actual total overhead cost for 2016 is $440,000, and the actual total machine hours for 2016 are 57,000. Compute the underapplied or overapplied overhead for 2016.

Group of answer choices

$16,000 overapplied

$24,000 underapplied

$24,000 overapplied

$16,000 underapplied