44 2 points A company absorbs overheads on the basis of machine hours. The overhead absorption rate for the period has been based on budgeted overheads of 157,000 and 15,700 machine hours. During the period overheads of 175,000 were incurred and 12,560 machine hours were used. Which of the following statements is correct: 0000 overhead was 49,400 overabsorbed none of the above overhead was 18,000 overabsorbed overhead was 49,400 underabsorbed overhead was 18,000 underabsorbed