Exercise 1317 (Static) Manufacturing overhead-over/underapplied LO 13-5, 13-6 Janson Incorporated produces pickup truck bumpers. Overhead is applied on the basis of machine hours required for cutting and fabricating. A predetermined overhead application rate of $25.40 per machine hour was established for 2022. Required: a. If 5,000 machine hours were expected to be used during 2022 , how much overhead was expected to be incurred? b. Actual overhead incurred during 2022 totaled $132,650, and 5,100 machine hours were used during 2022 . Calculate the amount of overapplied or underapplied overhead for 2022. Note: Input the amount as positive value. c. Whether the overapplied or underapplied overhead for the year is normally transferred to cost of goods sold in the income statement