Your Company uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. At the beginning of the year, the company estimated its predetermined overhead rate to be $8 per direct labor hour since it estimated total manufacturing overhead cost at $720,000 and direct labor-hours at 90,000 hours. The actual overhead cost incurred during the year was $780,000 and the actual direct labor-hours incurred on jobs during the year was 100,000 hours. What is the difference between the applied manufacturing overhead and the actual manufacturing overhead? $60,000 underapplied $20,000 overapplied $20,000 underapplied $60,000 overapplied