pany uses a standard costing system with direct labors hours being the basis (cost driver) for applying overhead. Dexter Corporations's standard cost card shows the following for one unit of product Alpha. Direct materials Direct labor Variable Overhead Fixed Overhead Std Oy 115 pounds 1.0 hours 1.0 hours 1.0 hours Std price (cate) $30,00 per pound $20.00 per hour $2.50 per DL hour $7.50 per DL hour Std. cost $45.00 $20.00 $ 2.50 $.750 $75.00 During the month of July, the following was recorded by the company relative to its production of product Alpha: Planned level of production Actual level of production Direct materials purchased Cost of direct materials purchased Direct materials placed into production Direct labor incurred Actual direct labor cost Actual variable overhead cost Actual fixed overhead cost 3,100 units 3,000 units 5,000 pounds $152,000 4,400 pounds 3,050 hours $60,390 $6,405 $24,400 Compute the total over or underapplied factory overhead that existed at the end of the month. (Hint: you may want to prepare a t-account for account)