Walker Enterprises, Inc., uses a job-order costing system and sets a predetermined overhead rate at the beginning of each year based on estimated manufacturing overhead costs. Each job requires work in both the Assembly and Machining Departments. The predetermined overhead rate is based on direct labor cost in Assembly Department and on machine hours in Machining Department. At the beginning of the year, the company made the following estimates: Assembly Department $120,000 Machining Department $32,000 Direct labor cost Manufacturing overhead costs $150,000 $160,000 Direct labor hours 7,500 2,000 50,000 Machine hours 3,000 During the upcoming year, Rose had the following actual results: Direct labor cost Manufacturing overhead Assembly Department $150,000 . Machining Department $45,000 Direct labor hours 7,500 2,000 50,000 Machine hours 3,000 During the upcoming year, Rose had the following actual results: Assembly Department Machining Department Direct labor cost $150,000 $45,000 Manufacturing overhead $180,000 $170,000 costs Dire 'abor hours (all jobs) 10,000 3,000 Machine hours (all jobs) 4,000 55,000 Compute the amount of total over or under applied factory overhead cost by company (total of both departments) and indicate the type too (U or O). (10 points) Example of answer: 4500 O or 4500 U