Please explain both requirements

The ketchup department of a major food manufacturer has an overhead rate of $5.45 per direct-labor hour, based on expected variable overhead of $247,000 per year, expected fixed overhead of $461,500 per year, and expected direct-labor hours of 130,000 per year. Data for the year's operations follow: (Click on the icon to view the data.) Read the requirements. Requirement 1. What is the underapplied or overapplied overhead for each 6-month period? Label your answer as underapplied or overapplied. Begin by selecting the formula labels, and then compute the difference for the first 6 months and the last 6 months. Difference Manufacturing-overhead budget -X Requirements -X Direct-Labor Hours Used Overhead Costs Incurred* 1. What is the underapplied or overapplied overhead for each 6-month period? Label your First 6 months 67,000 370,050 answer as underapplied or overapplied. 2. Explain briefly the probable causes for the underapplied or overapplied overhead. Focus Last 6 months 54,000 336,350 on variable and fixed costs separately. Give the exact figures attributable to the causes you *Fixed costs incurred were exactly equal to budgeted amounts throughout the year. cite. Print Done Print Done Choose from any drop-down list and then click Check Answer. 6 parts remaining Clear All