KG, Inc. incurred the following costs in 2019: Direct Materials $5000; Direct Labor $3000; Indirect Materials $500; Indirect Labor $1000; Factory Rent $4000; Factory Utilities $1000; Advertising Expense $1000; Depreciation on Factory Equipment $2000. Based on the predetermined allocation rate, $7500 was allocated to Work-In-Process Inventory. Is the Manufacturing Overhead Account overallocated or underallocated? Overallocated by $2000 Underallocated by $1000 Underallocated by $2000 Overallocated by $1000