A company allocates overhead based on direct labor hours. At the beginning of the period estimated overhead was $360,000, and estimated labor hours were 40,000. At the end of the period the company discovered that actual overhead was $377,000 and actual labor hours were 43,000. How much was the overhead over-applied or under-applied?

$17,000 over-applied

$10,000 under-applied

$10,000 over-applied

$17,000 under-applied

Beginning inventory of finished goods is $50,000, cost of goods manufactured $140,000, ending inventory of finished goods $42,000, overhead was $9,000 over-applied and was closed to cost of goods sold. What is the cost of goods sold after closing the overhead account?

$139,000

$157,000

$148,000

$149,000