Acme Company applies manufacturing overhead costs at a rate of 125% of direct labor costs. Here are data regarding 20Y5: Raw materials inventory Work in process inventory Finished goods inventory $24,000 overapplied During 20Y5, purchases of raw materials were $330,000, actual manufacturing overhead costs were $266,000, and the cost of goods manufactured was $841,000. All raw materials are direct materials. What is the amount of underapplied or overapplied overhead? O $40,000 overapplied O $16.000 underapplied O $66,000 underapplied Jan 1 $83,000 $72,000 $121,000 None of the above Dec 31 $46,000 $48,000 $106,000

Acme Company applies manufacturing overhead costs at a rate of 125% of direct labor costs. Here are data regarding 20y5: During 20Y5, purchases of raw materials were $330,000, actual manufacturing overhead costs were $266.000, and the cost of goods manufactured was $841,000. All raw materials are direct materiak. What is the amount of underapplied or overapplied overhead? 524,000 overpplied 540.000 everapolind $16.000 underapplied 560000 underappled None of the above