Self-Assessment Practice 07 During the current year, Carlisle Manufacturing expected Job No. 16 to cost $450,000 of overhead, $750,000 of materials, and $300,000 in labor. Carlisle applied overhead based on direct labor cost. Actual production required an overhead cost of $420,000, $825,000 in materials used, and $330,000 in labor. All of the goods were completed. What is the amount of over- or under-applied overhead? O 0 0 0 $30,000 underapplied. $30,000 overapplied. $75,000 overapplied. $75,000 underapplied. Self-Assessment Practice 07 During the current year, Carlisle Manufacturing expected Job No. 16 to cost $450,000 of overhead, $750,000 of materials, and $300,000 in labor. Carlisle applied overhead based on direct labor cost. Actual production required an overhead cost of $420,000, $825,000 in materials used, and $330,000 in labor. All of the goods were completed. What is the amount of over- or under-applied overhead? O 0 0 0 $30,000 underapplied. $30,000 overapplied. $75,000 overapplied. $75,000 underapplied