6) 990 The following data is provided for the ABC company Budgeted overhead for the year is $200,000 Projected direct labor cost for the year - S100,000 Estimatedmachine hours for the year-20,000 Estimated direct labor hours for the year - 20,000 Overhead is applied to product based on machine hours During the month of June, the company incurred 3000 labor hours, used 2500 machine hours and incurred S30,000 of labor costs and S50,000 of overhead costs. Calculate A 3% B 390 C 390 The overhead rate The amount of overhead applied in June The over or underapplied overhead for June and explain what it means