Fairfield company applies manufacturing overhead to products at a predetermined rate of $50 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Item Direct materials Indirect materials Hourly labor wages Description Total Cost $ 60,000 30,000 Used on Jobs 101 and 102 Used on multiple jobs 750 hours @ $30 per hour 200 hours for Job 101- 300 hours for Job 102- 250 hours for Job 103- $ 6,000 9,000 7,500 22,500 4,000 8,000 2,500 9,000 7,500 6,000 Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries Other manufacturing overhead costs (factory rent, insurance, depreciation, etc.) Required: 1. Post the preceding information to Fairfield Company's Manufacturing Overhead T-account 2. Compute over- or underapplied manufacturing overhead.