Have I done this correctly. Much of the guidance I have seen indicates that overhead was over allocated in the amount I have listed, but it doesn't make sense...

1. Biltz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing overhead to jobs. During the year, the company actually incurred manufacturing overhead costs of $582,000 and 135,000 direct labor hours were worked. The company estimated that it would incur $525,000 of manufacturing overhead during the year and that 150,000 direct labor hours would be worked.
By how much was manufacturing overhead overallocated or underallocated for the year?
Use the Projected figures to find DLH: $525,000/150,000 = $3.50
Use DLH to find actual total allocation: $3.50 x 135,000 actual hours = $472,500
Compare budgeted to actual: $582,000 - 472,500 = $109,000 over allocated.