Multiple Choice Question 47 Tidwell Industries has the following overhead costs and cost drivers. Direct labor hours are estimated at 100000 for the year. Cost Driver Est. Overhead Cost Driver Activity Orders $ 170000 500 orders 342000 450 setups Activity Cost Pool Ordering and Receiving Machine Setup Machining Assembly Inspection Setups Machine hours 1637500 125000 MH Parts 1300000 1000000 parts 500 inspections Inspections 350000 If overhead is applied using traditional costing based on direct labor hours, the overhead application rate is O $16.38. $13.00. $38.00. $10.79. Multiple Choice Question 124 During 2019, Waterway Industries expected Job no. 59 to cost $300000 of overhead, $450000 of materials, and $200000 in labor. Waterway applied overhead based on direct labor cost. Actual production required an overhead cost of $245000, $520000 in materials used, and $170000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead? $55000 overapplied $10000 underapplied $10000 overapplied $55000 underapplied Click if you would like to Show Work for this question: Open Show Work