Problem 4-29 Oriole Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,960,000 and that employees would work a total of 98,000 direct labor hours. During March, the company worked on the Direct Materials Direct Labor Direct Labor Hours Beginning added during added during added during March March $8,500 158 212 121,500 21,800 34,200 12,180 86,600 71,900 3,410 2,710 1,330 31,840 21,845 301 $296,000 $183,980 $110,365 Jobs 134 and 158 were started in January, Jobs 212 and 287 were started in February, and Job 301 was started in March. During March, workers completed lobs 134, 158, and 212 obs 134 and 212 were delivered to customers during March, Oriole Company Incurred $177,000 manufacturing overhead in the month of March, Given that expenditure for overhead, was manufacturing overhead under- or overapplied in March? By how much? Over/Underappliled ON Assume that Oriole Company closes under- or overapplied overhead to the Cost of Goods Sold account. Calculate the Cost of Goods Sold amount after that adjustment