Woodman Company uses a predetermined overhead rate based on direct labor-hours to allocate manufacturing overhead to jobs. Estimated and actual data for direct labor and manufacturing overhead for last year are as follows: Estimated Actual Direct labor-hours. 600,000 550,000 Manufacturing overhead. $720,000 $680,000 The manufacturing overhead for Woodman Company for last year was: underallocated by $40,000 overallocated by $20,000 underallocated by $20,000 overallocated by $40,000