Burke Company produced 9,500 units of inventory and sold 7.500 of them. The company incurred the following production costs Variable manufacturing cost $675 per unit Fixed manufacturing overhead cost: $42,750 Assuming the company selis its product at a price of $31 per unit, and incurred $13,200 in selling and administrative costs, what is the amount of net income under absorption costing? Multiple Choice $146,925 $122925 Multiple Choice $146,925 $122,925 $132.925 $134.925 The Winchester Company estimates that its overhead costs will amount to $554,600 and the company's manufacturing employees will work 94,000 direct labor hours during the current year. If actual overhead costs for the year amounted to $601,000 and actual labor hours amounted to 99,000 , then overhead would be: Multiple Choice overopplied by $16,900 underapplied by $16,900 overopplied by $46,400 underopplied by $46,400