Company XYZ uses direct labor hours to allocate its manufacturing overhead. Manufacturing overhead was estimated to be $480,000 for the year. Actual manufacturing overhead was $415,000 and actual labor hours were 22,000. The estimated direct labor hours for the year was 20,000. The amount of manufacturing overhead applied to production would be: Select one: a. $528,000 b. $436,364 c. None of the answers given d. $539,000 e. $480,000 Overapplied overhead exists when the amount of overhead applied to jobs during the period is Select one: a. More than the total amount of overhead actually incurred during the period. b. Less than the actual direct manufacturing costs incurred during the period. c. More than the actual direct manufacturing costs incurred during the period. d. Less than the total amount of overhead actually incurred during the period. e.Equal to the total amount of overhead actually incurred during the period