Question 11 Graham Company uses a normal costing system that applies factory overhead on the basis of direct labor-hours. For the current year, the company estimated that it would incur $25.600 In factory overhead costs and 1.600 direct labor-hours. The April 1 balance in inventory accounts follow Material Inventory $ 54,000 Work-in-Process Inventory (12) $ 12.024 Finished Goods Inventory (211) $ 108,000 Job Y12 is the only job in process on April 1. The following transactions were recorded for the month of April: JOB DIRECT MATERIAL DIRECT LABOR STATUS Job Y12 $46.000 $12.220 Not yet Completed Job D20 $84.000 $8.060 Finished but not yet sold Job E33 $56.380 $3.640 SOLD TOTAL $186,380 $23.920 The Actual Overhead of the company totaled $16,472. Direct labor cost was $20/hour. MacBook Pro $ 108,000 Finished Goods Inventory (211) Job Y12 is the only job in process on April 1. The following transactions were recorded for the month of April JOB DIRECT MATERIAL DIRECT LABOR STATUS Job Y12 $46,000 $12.220 Not yet Completed Job D20 $84,000 $8,060 Finished but not yet sold Job E33 $56,380 $3.640 SOLD TOTAL $186,380 $23,920 The Actual Overhead of the company totaled $16,472. Direct labor cost was $20/hour. What was the amount of underapplied or overapplied overhead? $2.120 overapplied $2,664 verapplied $2.120 underapplied $2.664 underapplied MacBook Pro