A company uses a job costing system and applies overhead to products on the basis of direct labor cost. Job No.75, the only job in process on January 1, had the following costs assigned as of that date: direct materials, $40,000; direct labor, $80,000; and factory overhead, $120,000. The following selected costs were incurred during the year:Traceable to jobs:Direct materials$178,000Direct labor345,000Total$523,000

Not traceable to jobs:Factory materials and supplies

$46,000Indirect labor235,000Plant maintenance73,000Depreciation on factory equipment

29,000Other factory costs76,000Total$459,000The company's profit plan for the year included budgeted direct labor of $320,000 and overhead of $448,000. Assuming no work-in-process on December 31, the company's overhead for the year was

A.$11,000 overapplied.B.$24,000 overapplied.C.$11,000 underapplied.D.$24,000 underapplied.