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IU factory applies factory overhead (FOH) using a budgeted overhead rate. The budgeted overhead rate is $8 per machine hour. During the period, the factory

IU factory applies factory overhead (FOH) using a budgeted overhead rate. The budgeted overhead rate is $8 per machine hour. During the period, the factory used 22,000 machine hours and incurred FOH of $180,000. Determine whether FOH was under/over-applied, by how much for the given period.

$4,000 underapplied
$4,000 overapplied
$8,000 underapplied
$8,000 overapplied

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