The Upside Down, Inc. is a manufacturer of D'Artagnan replica stuffed animals, affectionately referred to as "Dart" by fans. The company allocates manufacturing overhead to production using a single, plantwide overhead rate based on the most appropriate cost driver for its highly automated manufacturing environment. The following information is available for the year ended December $31,1983$:

Estimated Manufacturing Overhead

$$400,000$

Estimated Direct Labor Hours

$50,000$

Estimated Machine Hours

$8,000$

Actual Direct Labor Hours

$55,000$

Actual Machine Hours

$12,000$

Actual Manufacturing Overhead

$$362,000$

By what amount is MOH overallocated or underallocated for the year?

Question $6$ options:

Underallocated by $$238,000$

Overallocated by $$58,000$

Overallocated by $$238,000$

Overallocated by $$38,000$

Underallocated by $$58,000$