Neptune Incorporated uses a standard cost system and has the following information for the most recent month. April: Actual direct labor hours (DLHs) worked 11,000 Standard DLHs allowed for good output produced this period 12.000 Actual total factory overhead costs incurred $ 29,500 Budgeted fixed factory overhead costs $ 11,400 Denominator activity level, in direct labor hours (DLHs) 20,000 Total factory overhead application rate per standard DLH $ 2.70 The total underapplied or overapplied factory overhead in April for Neptune, Incorporated was: $1,600 underapplied. $1,600 overapplied $4,800 overapplied $2.900 overapplied $2,900 underapplied