Concord Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $323,306 for the year, and machine usage is estimated at 125,800 hours. For the year, $422,185 of overhead costs are incurred and 130,500 hours are used. Indicate the effect of the adjustment to assign the under-or overapplied overhead for the year to cost of goods sold. rapplied overhead to Cost of Goods Sold will Manufacturing Overhead and Cost of Goods Sold. Indicate the effect of the adjustment to assign the under-or overapplied overhead for the year to cost of goods sold. The adjustment to assign the underapplied overhead to Cost of Goods Sold will Manufacturing Overhead and