Question 6 (3 points) A company has provided the following information from the first month of operations: . Purchased raw materials, $95,000 . Direct labour was $87,000. Indirect labour was $13,100. . Operating costs were incurred, $29,900 in the factory and $15,000 for office administration. . Direct materials used were $38,000. Indirect materials used were $9,000. . Advertising costs were incurred, $2,000. . Overhead was applied to work in process, $57,000. . Overhead is applied to jobs based on direct labour hours. The estimate for the year is $600,000 of manufacturing overhead and 60,000 direct labour hours. . All of the jobs were completed and transferred to Completed Jobs. Required: Calculate the balance in the manufacturing overhead account, and label it as either underapplied or overapplied