The following information was extracted from the accounting records of Noelle Company for product Z:

STANDARD COST CARD

PER UNIT

Direct materials: 8 pounds $1.20 per pound

Direct labor: 3 hours $20 per hour

Factory overhead: ?

Budgeted overhead for the period is $360,000 of fixed costs and $2 per direct labor hour. Planned number of units to be produced is 10,000.

The following information is available regarding the companys operations for the period:

Units produced 1,000

Direct labor 3,600 hours

Actual overhead incurred: $53,000

a) Noelles standard overhead rate is

b) Noelles amount of over/under applied overhead using standard costing would be