A company absorbs overheads on the basis of machine hours. The overhead absorption rate for the period has been based on budgeted overheads of 210,000 and 105,000 machine hours. During the period overheads of 198,000 were incurred and 84,000 machine hours were used. Which of the following statements is correct: 00 overhead was 30,000 underabsorbed overhead was 12,000 overabsorbed overhead was 12,000 underabsorbed none of the above overhead was [30,000 overabsorbed