Atkinson Industries estimated manufacturing overhead for the year at $290,000. Manufacturing overhead for the year was underapplied by $12,000. The company applied $235,000 to work in process. The amount of actual overhead would have been: Select one: a. $247,000. b. $278,000. C. $223,000. d. $302,000 e. $55,000 During its first year of operations, PQ Ltd. experienced the following: Units manufactured 70000 Units sold 60000 Product costs: Variable $10.5 per unit $315,000 Fixed Selling and Administrative: Variable $1.6 per unit Fixed $140,000 If PQ Ltd calculates operating profit under the variable costing method as opposed to the absorption costing method, operating profit will be Select one: a. $270,000 lower b. $315,000 higher c. $270,000 higher d. $65,000 lower e. $45,000 lower