Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was:

Bayest Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last yean, the Corporation worked 61,000 actual direct labor-hours and incurred $552,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 62,000 direct labor-hours during the year and incur $465,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: (Round your intermediate calculations to 2 decimal places.) 0503 Multiple Choice underapplied by $94,500 overapplied by $87000 overapplied by $94,500 underapplied by $87,000