The following accounts are from last year's books at Sharp Manufacturing: 157,000 522,000 Bal (a) Raw Materials 0 (b) 171,500 14,500 Bal (b) (c) (e) Work In Process 0 (f) 133,500 171,000 217,500 0 Manufacturing Overhead 23,500 (e) 27,500 159,000 475,000 217,500 Bal (f) Finished Goods 0(g) 522,000 47,000 (b) (c) (d) 7,500 Cost of Goods Sold 475,000 (9) Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the manufacturing overhead overapplied or underapplied for the year? Multiple Choice $7,500 underapplied $7,500 overapplied o $27,500 underapplied O $27,500 overapplied