ABC Company produces a line of watches. The company uses a normal costing system and allocates manufacturing overhead using direct manufacturing labor cost. The following data are for 2018: Budgeted manufacturing overhead cost $150,000 Budgeted direct manufacturing labor cost $300,000 Actual manufacturing overhead cost Actual direct manufacturing labor cost $142,000 $276,000 Inventory balances on December 31, 2018, were as follows: Accounts Ending Balance Direct manufacturing labor cost in ending balance Work in process 205,000 30,360 Finish goods 256,000 55,200 Cost of goods sold 609,000 190,440 Question 2/20 The amount of "under- or overallocated manufacturing overhead" is: 1. 04,000. 2. 08,000. 3. 011,000. 4. 024,000. 5. None of the above