During 2022, Cullumber Company incurred the following direct labor costs: January $16,800 and February $25,200. Cullumber uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $16,380 and $29,988. Actual overhead for the 2 months, respectively, totaled $21,000 and $28,140. Calculate overhead applied. Determine if overhead is over- or underapplied for each of the two months and the respective amounts.

During 2022, Cullumber Company incurred the following direct labor costs: January $16,800 and February $25,200. Cullumber uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $16,380 and $29,988. Actual overhead for the 2 months, respectively, totaled $21,000 and $28,140. Calculate overhead applied. January ta $ February $ ta Determine if overhead is over- or underapplied for each of the two months and the respective amounts. January $