Question 23 5p Parker Company uses a job-order costing system and applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor costs. Parker estimated 12000 machine hours. Last year manufacturing overhead and direct labor costs were estimated at $50,000 and 20,000, respectively, for the year. In July, Job #461 was completed. Materials costs on the job totaled $14,000 and labor costs totaled $1,500 at $5 per hour. At the end of the year, it was determined that the company incurred $ 124,000 in direct labor costs for the year and incurred $954,000 in actual manufacturing overhead costs. If the job produced 100 units; What is the over/under applied overhead. 6000 under applied 5000 over applied 6000 over applied none of the above are correct