6 Farnham & Associates is a literary consulting firm in New York. The following costs were incurred in a project to design a dust cover for a new novel: Direct professional labor 42,000 2 The firm's budget for the year included the following estimates: Budgeted overhead 628,eee head is applied to contracts by using a predetermined overhead rate that is based on direct professional labor cost. Actual professional labor during the year was $658,000 and actual Required: A. Determine the total cost to design the cover of the novel overhead was $815,000 B. Calculate the under- or overapplied overhead for the year. Be sure to label your answer applied