Question: Overhead incurred was $517. Overhead is allocated based on direct labor dollars. Estimated overhead for the year is $40,130 and estimated direct labor cost is

Overhead incurred was $517. Overhead is allocated based on direct labor dollars. Estimated overhead for the year is $40,130 and estimated direct labor cost is $20,604. If direct labor cost is $3,003, what is the amount of over or under applied overhead?

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