Motorsports, Inc. had a predetermined overhead rate of $2 per direct labor hour. The direct labor hours were estimated to be 25,000. The actual manufacturing overhead incurred was $47,000 and 24,000 actual direct labor hours were worked. How much was overhead over/under applied last year? a.$3,000 overapplied b.$1,000 underapplied c.$1,000 overapplied d.$2,000 underapplied