Manufacturing overhead was estimated to be $247,200 for the year along with 20,600 direct labor hours. Actual manufacturing overhead was $280,000, and actual labor hours were 25,600. Which of the following would be correct? Overhead is underapplied by $32,800 Overhead is underapplied by $27,200 Overhead is overapplied by $32,800 Overhead is overapplied by $27,200