Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57,000 actual direct labor-hours and incurred $346,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 55,000 direct labor-hours during the year and incur S330,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was: 1. A. Overapplied by $16,000 B. Underapplied by $16,000 C. Overapplied by $4,000 D. Underapplied by $4,000 E. None of the above