Question 4 (2 points) Pane Company uses a job costing system and applies overhead to products on the basis of direct labour cost. The following selected costs were incurred during the year: Direct materials Direct labour Manufacturing overhead Pane's profit plan for the year included budgeted direct labour of $320,000 and manufacturing overhead of $448,000. Assuming no work-in-process on December 31, Pane's overhead for the year was: A $178,000 345,000 459,000 $24,000 overapplied. $24,000 underapplied. $11,000 underapplied. $11,000 overapplied.

Pane Company uses a job costing system and applies overhead to products on the basis of direct labour cost. The following selected costs were incurred during the year: Pane's profit plan for the year included budgeted direct labour of $320,000 and manufacturing overhead of $448,000. Assuming no work-in-process on December 31, Pane's overhead for the year was: $24,000 overapplied. $24,000 underapplied. $11,000 underapplied. $11,000 overapplied