Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $110,250 and 3,500 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $112,200 and actual direct labor-hours were 3,250.

The predetermined overhead rate for the year was closest to: (Round your answer to 2 decimal places.)

$30.26

$32.20

$33.52

$31.50

Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $77,250 and 2,500 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $79,000 and actual direct labor-hours were 2,400.

The overhead for the year was: (Round your intermediate calculations to 2 decimal places.)

$3,090 overapplied

$4,840 underapplied

$3,090 underapplied

$4,840 overapplied