Required information

[The following information applies to the questions displayed below.] The following information pertains to Trenton Glass Works for the year just ended.

Budgeted direct-labor cost: 70,000 hours (practical capacity) at $16 per hour

Actual direct-labor cost: 80,000 hours at $17.50 per hour

Budgeted manufacturing overhead: $997,500

Actual selling and administrative expenses: 434,000

Actual manufacturing overhead:
Depreciation	$	231,000
Property taxes		20,000
Indirect labor		81,000
Supervisory salaries		201,000
Utilities		58,000
Insurance		31,000
Rental of space		302,000
Indirect material (see data below)		80,000
Indirect material:
Beginning inventory, January 1		48,000
Purchases during the year		94,000
Ending inventory, December 31		62,000
Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.)
						Overapplied overheadselected answer correct	$39,600selected answer incorrect