In a job-order costing system, when a job remains incomplete at the end of a period, how is the amount of overhead cost that has been applied to that job treated? It is closed out to Cost of Goods Sold. It is deducted on the Income Statement as overapplied overhead. It is part of the ending balance of the Work in Process inventory account. It is transferred to Finished Goods. Question 8 (1 point) Saved During the year, Paul Company used a predetermined overhead rate of $3.50 per direct labour hour, based on an estimate of 22,000 direct labour hours to be worked during the year. Actual overhead cost and activity during the year were: Actual manufacturing overhead cost incurred $90,000 Actual direct labour hours worked 25,000 What was the under- or overapplied overhead for the year? $2,500 underapplied $10,500 overapplied. $2,500 overapplied. $13,000 underapplied