A company:r has the following variances for the most recent period: 'v'ariable overhead spending variance Variable overhead efficiencv variance Fixed overhead budget variance Fixed overhead volume variance Required: 1. Calculate the balance in the manufacturing overhead account. Enter vour answer in the space below. 2. State vvhether the balance is under-applied or overapplied. [Tvpe "underapplied" or "over-applied" in the blank.)