Figure 8

the following information was extracted from the accounting records of Noella company for product Z

Standard cost card

per unit

direct materials: 8 pounds x $1.20 per pound

direct labor: 3 hours x $20 per hour

factory overhead: ?

Budgeted overhead for the period is $384600 of fixed cost and $2 per direct labor hour. Planned number of units to be produced is 10000

The following information is available regarding the company's operation for the period:

Units produced: 1000

Direct Labor: 3600

Actual overhead incurred: $54460

Refer to figure 8:

Noelle's standard overhead rate is?

Noelle's amount of over/under applied overhead using standard costing would be?