Hamilton Company applies manufacturing overhead costs to products based on direct labor hours. The company estimates manufacturing overhead cost for the year to be $256,000 and direct labor hours to be 20,000. Actual overhead and actual direct labor hours for the year were $275,000 and 22,600 hours, respectively. Required: 1. Compute over- or underapplied overhead. 2a. Which accounts will be affected by the over- or underapplied manufacturing overhead? 2b. Will the accounts be increased or decreased to adjust for the over- or underapplied manufacturing overhead? Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 2B Compute over- or underapplied overhead. Manufacturing overhead overapplied Reg 1 Reg 2A Req 2B Which accounts will be affected by the over- or underapplied manufacturing overhead? (Select all that apply.) Cost of Goods Sold Manufacturing Overhead Finished Goods Inventory Selling and Administrative Overhead Marketing and Distribution Overhead Req 1 Req 2A Req 2B Will the accounts be increased or decreased to adjust for the over- or underapplied manufacturing overhead?