Graham Company uses a normal costing system that applies factory overhead on the basis of direct labor-hours. For the current year, the company estimated that it would incur $25,600 in factory overhead costs and 1,600 direct labor-hours. The April 1 balance in inventory accounts follow: Material Inventory Work-in-Process Inventory (Y12) Finished Goods Inventory (Z11) $54,000 $12,024 $108,000 Job Y12 is the only job in process on April 1. The following transactions were recorded for the month of April: JOB DIRECTMATERIAL DIRECT LABOR STATUS Job Y12 $46,000 $12,220 Not yet Completed The Actual Overhead of the company totaled $16,472. Direct labor cost was $20/ hour. What was the amount of underapplied or overapplied overhead? $2.120 overapplied $2,664 underapplied $2.664 overapplied $2.120 underapplied