Manufacturing overhead was estimated to be $374,400 for the year along with 20,800 direct labor hours. Actual manufacturing overhead was $402.000, and actual labor hours were 23,000. Which of the following would be correct? Multiple Choice Overhead is overapplied by $27.600 Overhead is underapplied by $12.000 O Overhead is overopoled by $12.000 Overhead is underapplied by $27,600 Santos Inc. had the following information for the preceding year: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Beginning Ending Inventory Inventory (1/1) (12/31) $ 43,200 $ 30,800 $ 40,300 $ ?? $ 31,500 $ ?? Additional information for the year is as follows: Direct materials used $203,900 Direct labor $157,700 Manufacturing overhead applied $167,500 Cost of goods manufactured $533,200 Cost of goods sold $551,800 What was the ending Work in Process Inventory balance on 12/31? Multiple Choice $14,500