Overapplied manufacturing overhead exists when manufacturing overhead assigned to Work in Process Inventory is

less than overhead incurred and there is a positive balance in Manufacturing Overhead at the end of a period.

less than overhead incurred and there is a negative balance in Manufacturing Overhead at the end of a period.

more than overhead incurred and there is a negative balance in Manufacturing Overhead at the end of a period.

more than overhead incurred and there is a positive balance in Manufacturing Overhead at the end of a period.