Kim-Mark, Inc. makes costumes for movies and television shows. Mark Kimberly, the company's owner, prepared the following estimates for the upcoming year: Manufacturing overhead cost $ 750,000 Direct labor hours 50,000 Direct labor cost $ 300,000 Machine hours 30,000 (a) Assume that Kim-Mark applies manufacturing overhead on the basis of direct labor hours. During the year, 49,800 direct labor hours were worked. How much overhead was applied to work in process? If actual manufacturing overhead for the year was $ 744,100, was overhead under-or overapplied during the year? By how much? (For computation purposes round overhead rates to 2 decimal places, e.g. 52.75. Round final answers to decimal places, e.g. 5,275.) Applied Overhead $ 747000 Overapplied Overhead $ 2900 (b) Assume that Kim-Mark applies manufacturing overhead on the basis of direct labor cost. During the year, $295,000 in direct labor cost was incurred. How much overhead was applied to work in process during the year? If actual manufacturing overhead for the year was $ 744,100, was overhead under-or overapplied during the year? By how much? (For computation purposes round overhead rates to 2 decimal places, e.g. 52.75%. Round final answers to 0 decimal places, e.g. 5,275.) Applied Overhead $ 622300 Underapplied Overhead $ 121800 (c) Assume that Kim-Mark applies manufacturing overhead on the basis of machine hours. During the year, 30,200 machine hours were worked. How much overhead was applied to work in process during the year? If actual manufacturing overhead for the year was $ 744,100, was overhead under-or overapplied during the year? By how much? (For computation purposes round overhead rates to 2 decimal places, e.g. 52.75. Round final answers to 0 decmial places, e.g. 5,275.) Applied Overhead 755000 Overapplied Overhead $ 5000