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A manufacturing company budgeted for $1,240,000 in manufacturing overhead and expected 400000 direct labor hours. Actual overhead was $1,200,000, and actual direct labor hours were 390,000. Was manufacturing overhead over- or underapplied and by how much? YOUR ANSWER Cverapplied by $9,000 Underapplied by $9,000 Cverapplied by $4QOOO Underapplied by $40,000 CORRECT ANSWER