Vikings Company incurred actual overhead costs of exist297, 500 for the year. A budgeted factory overhead rate of 150% of direct labor cost was determined at the beginning of the year. Budgeted factory overhead was exist300,000 and budgeted direct labor cost was exist200,000. Actual direct labor cost was exist205,000 for the year. The factory overhead variance for the year was ______. exist10,000 overapplied exist10,000 underapplied exist2, 500 underapplied exist2, 500 overapplied Giants Company had the following information: Assume the cost driver for factory overhead costs is machine hours and a product uses 10,000 machine hours. What amount of factory overhead is applied to the product? exist20,000 exist20, 500 exist28, 750 exist20, 250 In job-order costing, a debit to work-in-process Inventory is used to record ___ the cost of goods completed a requisition of direct materials for production area a sale of merchandise a purchase of direct materials