c is where am confused

The following events occurred over the course of a year at Waterway Corp, which uses a job order costing system: 1. Direct materials purchases totaled $585.000. Waterway Corp tracks its direct materials separately from its indirect materials. Purchases were made on account. 2. $133,000 of indirect materials were used in production Waterway uses a separate Supplies Inventory account for indirect materials. 3. $568,000 of direct materials were used in production, 4. Thedloect labor payroll was $791,000 (credit Wages Payable). 5. Other manufacturing overhead costs incurred during the year totaled $670,000. 6. Waterway applies overhead based on a predetermined overhead rate of $23 per machine hour. The company used 48.000 machine hours during the year. 7. During the year, Waterway transferred goods costing 52.450,000 into the finished Goods inventory account 8. Waterway sold products with a manufacturing cost of $2.398,000 to customers during the year Your answer is correct. Prepare T-accounts for the following accounts: Direct Materials Inventory. Work in Process inventory Manufacturing Overhead Control, and Finished Goods Inventory. Record the transactions from part (s) in the T-accounts and calculate ending account balances. Assume the following beginning account balances (Post entries in order presented in the problem Account Balance $31.000 Direct Materials Inventory Work in Process Inventory $22.000 Finished Goods Inventory $45.000 Direct Materials Inventory Bal, 31000 (1) 585000 (3) 568000 Bal. 48000 Work in Process Inventory Bal. 22000 (3) 568000 2450000 (4) 791000 (6) Bal. 301000 Finished Goods Inventory 45000 Bal. 2398000 2450000 (8) > 17 97003 C Bal. (c) Your answer is partially correct. Was overhead under-or overapplied for the year? By how much? ho Overhead was Overapplied by $ 234000